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Tag Archives: Wall Street

Goldman Sachs to Launch Its Bitcoin Offering for Wealth Managers In Q2 2021

Mary Rich, the investment bank’s incoming global head of digital assets for the private wealth management division, told CNBC in an exclusive interview that they will launch the service in Q2 2021.  ″We are working closely with teams across the firm to explore ways to offer thoughtful and appropriate access to the ecosystem for private wealth clients, and that is something we expect to offer in the near-term,” Rich said. Full Spectrum Investments She noted that the bank might...

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One Year Since the 50% Daily Bitcoin Dump: What Has Changed? 

On this day, exactly one year ago, Bitcoin saw one of its worst trading sessions in history. The cryptocurrency lost around 50% of its value and tapped a low at around $3,800. That’s also true for every altcoin, as well as for the traditional financial markets.Nevertheless, it’s safe to say that the cryptocurrency market has come a long way since then. In fact, this was the absolute bottom in the cycle, and it has been up only ever since. Now, 365 days later, Bitcoin’s price is trading at...

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Bitcoin Losing the $50K Mark, Entering Bearish March: The Weekly Crypto Recap

This week was tough across the board, not just in the cryptocurrency market. It was marked by a serious correlation between Bitcoin and the S&P 500, as well as the entire legacy market, in general.As CryptoPotato reported, the abovementioned correlation reached a 5-month high. While this seems to be bearish in the short term, given that the stock market slumped following government bond yield that gave the market a jolt, there’s also a bullish argument to be made.Last weekend, the US...

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Bitcoin Correlation With S&P 500 at 5-Month High: Is This Bearish for BTC?

Bitcoin and traditional financial markets have been highly correlated over the past couple of months. This was clearly displayed over the past couple of weeks where the cryptocurrency followed stocks closely.BTC and S&P 500 Correlation SurgingData from the cryptocurrency analytics resource skew shows that the realized correlation between Bitcoin’s price and the S&p 500 has surged to a 5-month high. The last time it was at these levels was back in November 2020.Bitcoin – S&P 500...

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Goldman Sachs Plans to Relaunch Its Cryptocurrency Trading Desk

Reports on Reuters today revealed that American multinational investment bank, Goldman Sachs, will offer bitcoin futures and non-deliverable forwards on behalf of its clients starting next week.According to sources familiar with the matter, the move is part of the bank’s effort to take advantage of the fast-growing crypto space, which is gradually becoming an investment of choice for institutional players. Notably, the bank is also considering developing a Bitcoin Exchange-Traded Fund (ETF)...

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Wall Street Asset Manager Stone Ridge Files to Add Bitcoin to its Diversified Alternatives Fund

New York City-based asset manager Stone Ridge has filed documents with the US Securities and Exchange Commission on behalf of its diversified alternatives fund to introduce BTC as the seventh investment strategy. According to the filing with the SEC, the addition will become effective on April 26th, 2021. However, it doesn’t necessarily mean that the giant asset manager will proceed with its BTC endeavor.  The filing enables Stone Ridge to receive exposure for its diversified alternatives...

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GME Stock Price Soars 110% Days After Keith ‘Roaring Kitty’ Reveals $5.5M Position

GameStop has undoubtedly become the most widely discussed company in 2021 following the Wall Street Bets fiasco that catapulted its price to all-time highs far beyond the wildest imaginations.The action on the stock had since cooled down a bit as WSB lost some steam, but in the past few days, it’s on again as the price surged over 110%.GME Stock Price Soars 110%The price for GameStop shares has skyrocketed once again, weeks after the tumultuous fiasco with Wall Street Bets.Upon yesterday’s...

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Demand for Bitcoin at JP Morgan Not There Yet, Says Bank’s Co-President

The giant US multinational investment bank JPMorgan Chase & Co could be among the next entities to get involved with bitcoin. The bank’s co-president Daniel Pinto recently said that while the demand for the first-ever cryptocurrency isn’t fully there yet, it will be at some point, and the institution has to be prepared.JPM To Be Next On The BTC Bandwagon?Last year was indeed pivotal for the primary cryptocurrency as the COVID-19 pandemic highlighted its benefits to the traditional...

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Bitcoin Price Could Peak At $600,000 If It Follows Gold, Says Guggenheim CIO

Guggenheim Partners’ CIO Scott Minerd sees the cryptocurrency industry as a growing and valuable part of the global economy. He doubled-down on his long-term bullish BTC prediction but said that investors need to be wary of the speculative price increase from October 2020 to early January 2021.Minerd On BTC’s Price DevelopmentsThe executive at the Wall Street behemoth has been openly discussing BTC’s price movements and making projections ever since Guggenheim filed documents with the SEC to...

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Mark Cuban Says The HODL Ethos of Bitcoin Traders Helped Him Support r/WallStreetBets

The billionaire investor, Shark Tank personality, and Dallas Mavericks NBA team owner, Mark Cuban; took a few hours to share his knowledge in an AMA with members of the r/WallStreetBets subreddit. He touched on several topics, mostly relating to the collapse of the stock pumping movement and the blockchain industry’s potential.Mark Cuban may have several decades of Wall Street experience, but judging him for what he said on the AMA, he is currently standing on the side of the retail traders....

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