Bitcoin is officially a new asset class: Goldman Sachs

Originally published by Yahoo Finance - Brian Sozzi · May 24, 2021

Brian Sozzi's May 24, 2021 Yahoo Finance report covers Goldman Sachs digital-assets head Mathew McDermott framing bitcoin as a possible investable asset with idiosyncratic risk, rather than a settled safe haven. McDermott said client discussions had shifted toward access and potential portfolio fit, including spot and futures exposure. The report places that view against contemporaneous volatility and regulatory concerns: bitcoin was about 50% below its mid-April peak, China was moving against mining and trading, and the article noted risks from inconsistent global regulation. It is historical reporting, not a current market assessment.

• Goldman described bitcoin as an investable asset with distinct risks

• The 2021 discussion included spot and futures access for institutions

• The report paired institutional interest with volatility and regulatory risk