Goldman Sachs Can No Longer Dismiss Bitcoin

Today on the Brief: 

• Gary Gensler is officially Biden’s pick for SEC chairman
• Investors are betting against the U.S. dollar
• Grayscale has best day ever with $700 million in investment
• Ethereum reaches new all-time high 

Our main discussion: Goldman Sachs reportedly coming to crypto. 

Over the last year, many traditional financial institutions have recanted previous skepticism to join the bitcoin space. For most of that time, Goldman Sachs has been a noticeable holdout, saying as recently as last May that bitcoin and cryptocurrency weren’t an asset class. 

According to new reports from a Goldman insider, all that is finally changing as the bank prepares a crypto custody strategy. The change in attitude is inspired at least in part by the recent rulings from the Office of the Comptroller of the Currency.

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