Goldman Sachs Clients Dig Crypto

Happy Friday, Blockfolians

The Lede

A few bits of institutional crypto news to catch you up on before you head into the weekend.

  • A JPMorgan survey of 3400 Macro Quantitative conference participants found that there is crypto is still seen as risky

  • Charles Schwab is reportedly reviewing potential partners to offer white labeled crypto brokerage services

  • 40% of surveyed Goldman Sachs clients have crypto exposure

This last one is worth digging into a bit further. In addition to that top-level headline grabbing number, here are a few more juicy stats:

  • 61% of respondents expected to increase their holdings in the next 12-24 months

  • 54% think the price of bitcoin is going to be between $40,000 and $100,000 12 months from now, with 22% thinking its going to be greater than $100,000

  • While bitcoin was the most high interest asset to investors, 29% also expressed interest in ETH

In short, while this week might not have been great from a price perspective, the long term trend remains clear.

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Highly Relevant Reading


Community Commentary

Nic Carter, continuing to fight the electricity consumption fight
Damn NFTs Damn

A Really Big Number We Should Be Paying Attention To

$10,000,000

That’s the amount MicroStrategy just spent on 205 more bitcoin. Talk about buying the dip


Final Thought

Damn.