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Author Topic: [2019-04-27] Goldman Sachs 'Missing Out' as Crypto Fund Assets Soar to $15 Billi  (Read 110 times)
Jgilpulg
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April 27, 2019, 02:21:52 PM
 #1

Now, 2019 Bitcoin economic activity is hitting fresh highs and its value is rebounding. However, Wall Street is not reacting to seize the opportunity.

https://bitcoinist.com/cryptocurrency-bitcoin-fund-goldman-sachs/

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April 27, 2019, 05:22:53 PM
 #2

They have track record for this. Goldman Sachs is one of Circle's major backers.

Circle was a really good option for Bitcoin buying and they gave up in late 2016 just as it was about to take off. I don't know how much hassle it was to run it, but they must have thrown away tens or hundreds of millions of dollars in profit.


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April 28, 2019, 01:02:21 PM
Merited by BitHodler (1)
 #3

I don't think that Goldman Sachs is 'missing out' in this sudden price spike.

We may never know, maybe they are secretly buying or used other institution to buy and leverage on bitcoin. Those guys behind are not that stupid to let this pass and not book a profit.

We have seen JP Morgan did it in the past, so I wouldn't be surprise if Goldman Sachs is another bagholder we didn't know.

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April 28, 2019, 01:57:57 PM
Merited by BitHodler (1)
 #4

I don't think that Goldman Sachs is 'missing out' in this sudden price spike.

We may never know, maybe they are secretly buying or used other institution to buy and leverage on bitcoin. Those guys behind are not that stupid to let this pass and not book a profit.

We have seen JP Morgan did it in the past, so I wouldn't be surprise if Goldman Sachs is another bagholder we didn't know.

Agreed. I'm certain that most of these legacy institutions have some sort of an exposure to crypto through proxy firms.

People here blindly assume that they are still going to enter the market at some point in the future, but they are here already. It's not for nothing that we see large players such as Fidelity, TD Ameritrade, Nasdaq, Bakkt, etc try to claim their cut of the pie.

Goldman Sachs has even admitted to buy into Bitcoin on behalf of their clients. Not sure if this concerns futures or spot Bitcoin, but the interest is real.

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April 28, 2019, 05:07:23 PM
Merited by BitHodler (1)
 #5

Well, on the same logic, they also missed out on losing 70% of their value (I'm just quoting the rough figure of losses last year for Galaxy) like most other crypto fund assets did. So I'm sure Bitcoin sitting where it is today hasn't yet made anyone sweat on missing out.

I don't think that Goldman Sachs is 'missing out' in this sudden price spike.

We may never know, maybe they are secretly buying or used other institution to buy and leverage on bitcoin. Those guys behind are not that stupid to let this pass and not book a profit.

We have seen JP Morgan did it in the past, so I wouldn't be surprise if Goldman Sachs is another bagholder we didn't know.

Agreed. I'm certain that most of these legacy institutions have some sort of an exposure to crypto through proxy firms.

People here blindly assume that they are still going to enter the market at some point in the future, but they are here already. It's not for nothing that we see large players such as Fidelity, TD Ameritrade, Nasdaq, Bakkt, etc try to claim their cut of the pie.

Goldman Sachs has even admitted to buy into Bitcoin on behalf of their clients. Not sure if this concerns futures or spot Bitcoin, but the interest is real.

What I've always believed. They may not as a company have declared stakes in Bitcoin or crypto, but their toes have long been dipped, their beaks have long been wet. And all that action around 3k and 4k? And then that April Fool's 100m order? If that's not Wall Street money...

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April 28, 2019, 10:22:42 PM
 #6

Quote from: BitHolder
I'm certain that most of these legacy institutions have some sort of an exposure to crypto through proxy firms.

Absolutely. Not only that, but we'd never know if these institutions are accumulating from the OTC market. There is really no way of knowing exactly what a corporation is doing internally in terms of adopting crypto.

I would not doubt if at least some of these traditional financial institutions were able to spot the bottom and accumulate coins while everyone else was still concerned about the bear market. After all, that's when the smart money starts to flow into the market.

I can see nonetheless that the level of participation from institutional investors being an all time high during the next bull market, which is probably going to swing by in 1-2 years given historical context, because of how many have launched either trading services, custodial services, and their own tokens, or are planning on doing so.

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April 29, 2019, 03:21:15 AM
 #7

Goldman likely has exposure in third party index funds something like a C20 portfolio through a few degrees of separation.
Reporting rules if I recall correctly up to 10% of an assets value before they need to report and follow crypto regulations so someone made a few rules to dabble in the space as they are new.

Just need to read a bit into the numbers
https://www.reuters.com/article/us-crypto-currencies-genesis/u-s-firm-genesis-says-it-loaned-more-than-1-5-billion-in-cryptocurrency-idUSKCN1S11O3
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April 29, 2019, 11:38:16 AM
 #8

And all that action around 3k and 4k? And then that April Fool's 100m order? If that's not Wall Street money...

That was very supicious for sure.

Also the fact that whoever this entity was, only used the most reputable fiat exchanges (e.g. Bitstamp, Coinbase and Kraken) in the space to utilize their dominance. No Bitfinex and no USDT crap. It was also a Bitcoin only lead pump, which again indicates at institutional activity, because they are building products based on Bitcoin and not whatever random shitcoins.

Also take in mind that before the pump to $5000 the CME futures volumes exploded. This definitely isn't coincidence at all.

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April 29, 2019, 01:22:09 PM
 #9

I don't think that Goldman Sachs is 'missing out' in this sudden price spike.

We may never know, maybe they are secretly buying or used other institution to buy and leverage on bitcoin. Those guys behind are not that stupid to let this pass and not book a profit.

We have seen JP Morgan did it in the past, so I wouldn't be surprise if Goldman Sachs is another bagholder we didn't know.

There are indeed many ways that a big institution like Goldman Sachs can participate in this growing marketplace with no need to acknowledge that they are. One day we will just wake up that they are actually raking in profits from their cryptocurrency exposure. These people do not have an obligation to report everything to the public but to their shareholders alone. They can smell an opportunity from mile apart...like a shark smelling the blood.

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April 29, 2019, 07:03:56 PM
 #10

Absolutely. Not only that, but we'd never know if these institutions are accumulating from the OTC market. There is really no way of knowing exactly what a corporation is doing internally in terms of adopting crypto.
The fact that there is no way to figure out who moves Bitcoin from address to address shows that Bitcoin is doing its job well. I'm sure that institutions like that bit of 'privacy', and we all do.

I am however not sure if institutions are legally obliged to disclose their current holdings, but it would make sense if so. It's mostly client money they invest, and they do deserve to know what is going on in the background.

I would not doubt if at least some of these traditional financial institutions were able to spot the bottom and accumulate coins while everyone else was still concerned about the bear market. After all, that's when the smart money starts to flow into the market.
Institutions pay attention to the technicals, and what's better than buying into an asset that has gone down with more than 75%? Much better than many of the stocks that hover around all time high levels.

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May 02, 2019, 06:42:45 AM
 #11

With so many stats showing that bitcoin has bottomed out these institutional investors must be secretly buying in small amounts, waiting for further signs of growth before committing

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May 02, 2019, 11:49:47 PM
 #12

I don't think that Goldman Sachs is 'missing out' in this sudden price spike.

We may never know, maybe they are secretly buying or used other institution to buy and leverage on bitcoin. Those guys behind are not that stupid to let this pass and not book a profit.

We have seen JP Morgan did it in the past, so I wouldn't be surprise if Goldman Sachs is another bagholder we didn't know.

There are indeed many ways that a big institution like Goldman Sachs can participate in this growing marketplace with no need to acknowledge that they are. One day we will just wake up that they are actually raking in profits from their cryptocurrency exposure. These people do not have an obligation to report everything to the public but to their shareholders alone. They can smell an opportunity from mile apart...like a shark smelling the blood.
With these institutions, its no surprising that they do foreseen money making opportunities clearly compared to average joe's investors out there.They wont
really tend to proclaim on each action they made which would leave out questions on our minds that they might not or might involved on sudden price spikes.
We wont really know on whats behind but we cant really deny the possibilities of their involvement.


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