Goldman Sachs Exec Says More Institutional Investment Would Calm Bitcoin Volatility

Goldman Sachs Exec Says More Institutional Investment Would Calm Bitcoin Volatility


An executive at multinational investment bank Goldman Sachs believes an increase in the participation from institutional investors is the “key” to stabilizing nascent markets such as cryptocurrencies.

Speaking on CNBC’s The Coin Rush on Tuesday, Goldman Sachs’ global head of commodities research, Jeff Currie, said the cryptocurrency market “is becoming more mature” but still has a way to go.

“Right now they’re [institutional investors] small … about $700 billion dollars of money in bitcoin right now, of that roughly one percent of it is institutional money,” said Currie.

Currie, who is the global head of commodities and research, also said bitcoin is a defensive asset similar to gold. He raised gold’s $3 trillion market, saying some of that money could be allocated to cryptocurrency.

“Right now all of the cryptocurrencies have about a trillion [dollars], let’s say it grows to $2 trillion, then you just do the simple math – how

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