Goldman Sachs already has a plan to bring Bitcoin to $100,000: what is it

This week, it was revealed that Goldman Sachs, one of the largest investment banks on a global scale, plans to launch new cryptocurrency services.

For example, as it transpired, the financial institution will allow those clients who already have cryptocurrencies in custody, own miners or participate in hedge funds, invest in “bilateral options”.

It is a Goldman Sachs options market that aims to manage the risks of these portfolios – which are by nature volatile – and increase their returns.

Goldman Sachs

On the other hand, the bank filed with the U.S. Securities and Exchange Commission an Ethereum fund through Galaxy Digital, a cryptocurrency investment firm that, in addition, partnered with Goldman Sachs to provide liquidity in its bitcoin futures offering.

This fund is now available and is called “Galaxy Institutional Ethereum Fund” and to invest, you need a minimum of $250,000. The position of Raoul Pal, the blockchain expert who opened goldman Sachs’ eyes

Raoul Pal

Raoul Palrose to the stardom of the finance and investment world when he became a macroeconomic hedge fund manager at Goldman Sachs.

Over time, he became a fan of blockchain, Bitcoin and cryptocurrencies; and left his position in finance to found Global Macro Investor and Real Vision, two companies that are dedicated to research and offer financial advice to investors on a global scale.

Today, Pal considers Ethereum to be the best investment he made “in his life” and prefers it over Bitcoin.

“Basically, there is 13% of all Ethereum free float available. Everything else is being gambled, blocked and hoarded. They have only made the most difficult offer. The offer is lower. The Ethereum that is in free-float is falling every day (…) Most people are going to start highlighting what they have. No availability. And the demand is going to be exponential. Exponential demand, meets fixed supply, is equal to exponential price rise. One of the best montages I’ve ever seen,” the expert explained.

Currently, Goldman Sachs follows the philosophy of its former macroeconomic hedge fund manager and already holds 20% of the company’s store of value in bitcoins.

When this percentage rises to 50%, the price of Bitcoin could skyrocket and reach a historical high of $100,000, but it will all depend on whether more investors adopt the aforementioned cryptocurrency funds and mechanisms.