Bitcoin and Goldman Sachs: Bank holds meeting for customers via BTC

Bitcoin and banks is an issue in itself. Satoshi Nakamoto developed BTC 2008/09 in the middle of the banking crisis. The key difference from everything the world has seen so far is that the software does not need a middleman to be trusted. Bitcoin is therefore potentially a threat to the business model of banks.

No wonder that most of the reactions in this sector are very critical of BTC and that this skepticism has so far been largely ignored. But the increased attention that BTC has received in the past weeks and months from the halving and the corona crisis could change that. As has now become known, Goldman Sachs will hold a meeting for its customers next week, which will include Bitcoin. What exactly is this about and what does this mean for BTC?

Bitcoin arrives at Goldman Sachs

Goldman Sachs should be known to most as a company and bank. Still a short explanation: Goldman Sachs (GS) is a global investment banking and securities trading company that advises super-rich, states and large companies.

GS is one of the 30 major banks that have been classified as systemically important financial institutions. In summary, it can be said that Goldman Sachs has a lot of influence in the financial sector and its actions are trend-setting for many others.

As has now become known, GS is holding a call (meeting) on ​​Wednesday, May 27, where, according to the invitation, there will be talks about Bitcoin, among other things. The online event will not be open to the public, but will only be accessible to customers of GS's “Consumer and Investment Management Division”.

BTC on an unstoppable advance

But what does that mean specifically for Bitcoin ? The online event has not yet taken place, so it is of course not yet possible to say what content and opinion GS is presenting to its customers about BTC. It is also questionable whether we will find out afterwards.

Nevertheless, a lot can be said, namely that the very fact that Bitcoin is now so relevant that one of the 30 largest banks worldwide has to talk to its customers about it is a great success for BTC. And regardless of what opinion GS has about Bitcoin.

As Henrik Andersson, Chief Investment Officer at Apollo Capital, an Australian crypto fund, says, this was unthinkable a few years ago.

The news from Bitcoin and Goldman Sachs fits into the picture of the increasing institutionalization of the past weeks and months. It is possible that GS BTC did not integrate the topic into the online event itself, but that the demand from customers was simply too great to continue ignoring Bitcoin as an asset.

The meeting will not only go through BTC. The “Outlook on the US economy and the effects of current monetary policy on inflation and gold” are also to be dealt with thematically. The digital gold fits well into the topic here.