20 July 2026
Goldman Sachs Considers Bitcoin as New Asset Class
Financial giant Goldman Sachs now claims Bitcoin as a "New Asset Class" alongside a research report.
The report revealed comments from Goldman Sachs members, including GS Global Head of Digital Assets Matthew McDermott.
"Bitcoin is now considered an investable asset. It has its own idiosyncratic risk due to its novelty and since its price activity doesn't behave as expected when it is compared to other assets," said McDermott.
Additionally, McDermott notified that "Bitcoin has tended to be more aligned with risk-on assets. Clients are largely treating Bitcoin as a new asset class which is notable as it's not often that we witness the emergence of a new asset class."
GS commodity analyst Mikhail Sprogis and Head of Commodities Research Jeff Currie also said that cryptocurrencies could act as a store of value "only if they have other real-world uses." They further clarified that value is determined by each network's size and growth along with the information verified by the network.
GS Senior Multi-Asset Strategist Christian Mueller-Glissman stated that if Bitcoin's risk/reward ratio continues, it would add value to investor portfolios. Finally, GS co-head of Global FX, Rates, and EM Strategy Zach Pandl argued that potential Bitcoin adoption would come from its "strong brand" alongside security, privacy, and other features.
The report also features additional comments from several industry leaders, including Michael Novogratz- CEO of Galaxy Digital, and Michael Sonnenshein- CEO of Grayscale Investments. This report comes alongside its plans to move into the cryptocurrency sector. On May 7, the company revealed that it had executed its first crypto trade through its long-awaited trading desk. Goldman Sachs has partnered with several financial giants like JP Morgan, Wells Fargo, and BNY Mellon for offering cryptocurrency services.
Disclaimer: The author's views and opinions are for informational purposes only and do not constitute financial, investment, or other advice.
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