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Goldman Sachs partners with Galaxy Digital

 


The US entrepreneur Mike Novogratz is now one of the most dazzling personalities in the crypto scene. The 57-year-old has managed to build a kind of bridge between the old financial world and the new crypto and DeFi world with his company Galaxy Digital Holdings . True to the motto "Once Goldman, always Goldman", the ex-Goldman Sachs manager is of course well connected in the top floors of the largest financial institutions in the world. And these contacts are now benefiting him and his company Galaxy Digital.


Goldman Sachs takes over mediation

As per official SEC documentsAccording to a report released on Tuesday, March 8th, the investment bank plans to partner with Galaxy Digital to enable its clients to invest in Ether (ETH). Goldman Sachs is said to have already brokered the Galaxy Digital Ethereum fund for some of its customers for a commission. This news is particularly significant when you consider that the investment hurdle is $250,000. The institutional financial world now has another investment vehicle available that can be used to invest in ether quickly and, above all, without great effort. The move towards Ether (ETH) should not really come as a surprise either. Just last year, Goldman Sachs predicted thatBTC-ECHO reported .


Galaxy Digital, in any case, sees itself well positioned for a year that should see larger capital inflows from the institutional space. "More and more funds are considering crypto as a fifth asset class," Robert Bogucki, co-head of global trading at Galaxy Digital, told The Wall Street Journal . Cryptocurrencies seem to have arrived in the big money world. However, it remains to be seen whether there will be a money glut in crypto this year.


Bullish CEO

The outbreak of the Russia-Ukraine war seems to have reinforced Novogratz's bullish attitude towards Bitcoin and Co. In an interview with the US news agency Bloomberg , the former Goldman manager explained that while Bitcoin is not a means for states to circumvent sanctions, the cryptocurrency does exactly what it was created to do: to be used by people, to prevent state control. However, the crypto enthusiast is skeptical as to whether Bitcoin can actually be used as a means of payment. The 57-year-old explained his skepticism in December 2021 in a conversation with the US news channel CNBC and emphasized that he saw Bitcoin much more as a digital store of value

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