Wall Street megabank Goldman Sachs has now left its outdated views on cryptocurrencies in 2021 and entered this year with a fresh perspective.
In what seems to be the most obvious way, the bank’s updated version of the website now features ‘cryptocurrencies, the metaverse, and digitalization’ in the very front of the landing page.
“From cryptocurrencies to the metaverse, explore the megatrends that are reshaping economies,” Goldman Sachs writes above an ‘explore topic’ option, which further leads to some of the company’s insights into the metaverse, Web3, blockchain, digital economy, and more.
So far, Goldman Sachs has shown reluctance to cryptocurrencies. In a June 2020 report, the company noted that it does not consider Bitcoin as a long-term value storage method or an asset suitable for investment diversification.
Several months later, another Sachs report discussed comprehensively the crypto market, and whether it should be considered an asset class. Soon after, the bank launched its Bitcoin-backed trading products and recently executed an over-the-counter crypto transaction, something that was unseen amongst major Wall Street banks.