Goldman Sachs holds $710M in Bitcoin ETFs

[bitmover]

Goldman Sachs holds $710M in Bitcoin ETFs — SEC filing

Since the second quarter, Goldman Sachs has added $300 million to its portfolio in Bitcoin ETF holdings, increasing exposure by 71%.

https://cointelegraph.com/news/goldman-sachs-holds-710-million-bitcoin-etfs

Now big banks are coming in.

Goldman sachs just bought nearly 1 billion of bitcoin through ETF. 

institutional money is really coming in. Etf just opened the door.

Bitcoin is not an alternative and high risk investment like 10y ago. Things are changing.

[rdluffy]

Really interesting
I even created a thread yesterday: https://www.altcoinstalks.com/index.php?topic=325876.0

About how I changed my mind about BTC over time, and it's really like that, a high risk investment, only for enthusiasts to hedge against inflation and wall street ETFs
Now I think the risk is to not have any satoshi for the future, banks and Wall Street are worried and buying BTC

[Mia Chloe]

Now big banks are coming in.
Goldman sachs just bought nearly 1 billion of bitcoin through ETF. 
institutional money is really coming in. Etf just opened the door.
Bitcoin is not an alternative and high risk investment like 10y ago. Things are changing.

The pump was at first triggered by the US election. Many persons were anticipating that bitcoin will pump if Trump won the election and the opposite if he lost. At first the whole discussion about the relationship between bitcoin price and the election seemed liked just some regular discussion till trump actually won.

At this point the pump we are experiencing isn't as a result of the election rather it is as a result of the effect of traders pumping the price as well as big firms buying bitcoin like you mentioned. The fact is big firms like this made so much from the bull that they intend on. Making bitcoin hold up to it's current price.

[Faisal2202]

Now big banks are coming in.

Goldman sachs just bought nearly 1 billion of bitcoin through ETF. 

institutional money is really coming in. Etf just opened the door.

Bitcoin is not an alternative and high risk investment like 10y ago. Things are changing.

You must have experienced BTC 10 years ago but I don't from the readings and videos I watched and the history, I knew my experience wouldn't be the same as yours (if you have) so I can say one thing for sure that BTC has really changed and it is nowhere close to the BTC of a decade old.

This BTC is being adopted by all the big whales, registered investors, ETFs, governments and even some of the presidents ran campaigns to streamline the adoption of BTC and in that list, USA is on top. BTC is really grooming and that will make people more rich.

[Lucius]

Now big banks are coming in.
Goldman sachs just bought nearly 1 billion of bitcoin through ETF. 
institutional money is really coming in. Etf just opened the door.
Bitcoin is not an alternative and high risk investment like 10y ago. Things are changing.

As you wrote, it seems that they bought a billion BTC, and did not invest $700 million, which is not such a large amount for such an institution. However, I am not at all surprised that banks are also interested in BTC in the context of profit, of course, and that will obviously be the case as long as there is profit in it.

I still have some doubts about all that, considering that all these big players, regardless of their influence on the price (positively), can also drag BTC in the direction that it will become a toy for the rich - and it is obvious that more and more BTC is passing into their hands, at least figuratively speaking, given that they keep it in custodial wallets.

[TomPluz]

Years ago, institutional investors, banks and traditional financial platforms all OPPOSED the coming in and adoption of Bitcoin calling it as just another SCAM and can be DEAD anytime. Whenever Bitcoin was making a big dip, these pundits talked of Bitcoin's collapse but just like the immortal bird phoenix it was and is an asset that keeps on coming back...being resurrected again and again. However, we know that these people and platforms are actually salivating and looking for an opportunity to make money with Bitcoin hence ETFs came on the scene this year...now they have the tool they can play with without directly getting involved with Bitcoin but we should also be aware that ETF can be a double-edged sword it can be the impetus for Bitcoin's push or it can also be the knife that can wedged its slowdown.

[erus]

Goldman Sachs holds $710M in Bitcoin ETFs — SEC filing
Since the second quarter, Goldman Sachs has added $300 million to its portfolio in Bitcoin ETF holdings, increasing exposure by 71%.
https://cointelegraph.com/news/goldman-sachs-holds-710-million-bitcoin-etfs

Now big banks are coming in.
Goldman sachs just bought nearly 1 billion of bitcoin through ETF.

The money is so much and it is certain that this has been planned for a long time. Everything must also have a history and until now that history has been achieved by Bitcoin. Big banks like Goldman Sachs currently agree with their investment in Bitcoin. Amazing.

institutional money is really coming in. Etf just opened the door.
Bitcoin is not an alternative and high risk investment like 10y ago. Things are changing.

Maybe if I was 10 years back, had a little money and had been on various forums I would have believed in Bitcoin and bought more Bitcoin. Unfortunately, I came a few months later and saw that Bitcoin was very expensive. For now I don't dare to buy Bitcoin because now is the time to sell Bitcoin. Red = Buy , Green = Sell.

[yhiaali3]

Yes, things are changing dramatically, nothing stays the same, what was forbidden yesterday is desired today and vice versa, what is highly desired becomes hated over time, the winds are blowing in favor of Bitcoin ships. Not long ago, banks were the biggest enemies of Bitcoin and now they are investing in Bitcoin.

The next step in my opinion will be when Trump fulfills his promise to use Bitcoin as a strategic reserve for the United States, and then most governments and major institutions will follow the lead of the United States.

[0t3p0t]

It's what big players will definitely do to the emerging crypto potential they knew they will make tremendous gains from it maybe it is because of what had happened in the first quarter which made some noise due to new all time high and memecoin trend.

[bitmover]

Maybe if I was 10 years back, had a little money and had been on various forums I would have believed in Bitcoin and bought more Bitcoin. Unfortunately, I came a few months later and saw that Bitcoin was very expensive. For now I don't dare to buy Bitcoin because now is the time to sell Bitcoin. Red = Buy , Green = Sell.

10 years ago, people were saying that bitcoin was expensive as well.

When I  bought  my first bitcoin the price was 2k usd. Everyone was saying it was very expensive.

You would probably say the same 10 years ago.

I don't think it is expensive now.

[Lucius]

10 years ago, people were saying that bitcoin was expensive as well.
When I  bought  my first bitcoin the price was 2k usd. Everyone was saying it was very expensive.
You would probably say the same 10 years ago.
I don't think it is expensive now.

True, even 10 years ago when the price of BTC was under $1000 and amounted to $200 - $400 during 2015/16 many thought it was too expensive because then most did not believe that BTC would ever be worth $10k, let alone that one day it would approach $100k.

We can say that today the price is expensive compared to 10 years ago, but probably cheap compared to the price that will be in 10 years - although it is difficult to compare the period when you could buy 1BTC for $200 with the period when 1 BTC costs even $90k. Back then, most could become the owner of 1 BTC, today there are very few who have that kind of money and are still ready to invest it.

[TomPluz]

True, even 10 years ago when the price of BTC was under $1000 and amounted to $200 - $400 during 2015/16 many thought it was too expensive because then most did not believe that BTC would ever be worth $10k, let alone that one day it would approach $100k.

We can say it now to be cheap all because we already witnessed what happened to the price of Bitcoin as it already reached more than $100K right now...but 10 years ago this can be difficult to predict as the market was even then not so accepting of Bitcoin yet so we heard so many gloomy assessments and predilections for and against the said digital asset. Lucky are those people who did not listen to many experts and just continued on holding Bitcoin despite the many ups and downs in the crypto market. Right now, we can say that $100K can be so cheap that is if one day Bitcoin can already be worth a million and even more...but as humans as we are nobody can really predict the future and this is one element that makes investing risky or profitable depending on what will happen. Baes on the wisdom of the big banks and financial institutions who are now into Bitcoin via ETFs we can then conclude that Bitcoin is really worth the risk and its future can be so bright and prosperous.