A top economist at Goldman Sachs says Bitcoin is beginning to grow up.
In a new interview with CNBC, Goldman’s global head of commodities research, Jeff Currie, says he’s seeing signs that the Bitcoin market is beginning to mature. He says increasing allocations from institutional investors will be key to reducing BTC’s volatility in the long run.
“I think the market is beginning to become more mature, and I think in any nascent market you get that volatility and those kind of risks that are associated with it. I think the key to creating some type of stability in the market is to see an increase in the participation of institutional investors. Right now they’re small. There’s about $700 billion of money in Bitcoin right now. Of that, roughly 1% of it is institutional money.”
A number of high-profile investors including Stanley Druckenmiller and Paul Tudor Jones have all recently invested in Bitcoin.
The institutional crypto asset manager Grayscale