What an exciting time to be in the cryptoshphere and so much too look forward to. With the constant commentary of many asking how to make money or complaining about not making it, rest assured you're here, you're active and you're going to earn.
Who are Goldman Sachs?
To understand the significance of this market entry you first need to understand who Goldman Sachs are. In summary Goldman Sachs are an international investment banking incorporated company.
With a total of 41,000 employees and a net worth of $US922Billion of assets they aren't a small investment banking company. They are a global leading investment management fund for banking, securities and investment management fund. If you have money and want to make more money this is the firm to go to. If you want to be the best investor you get a job here. Getting a job here is rarer than an acceptance letter from Harvard University, good luck.
Why the significanc?
Well there in itself is the answer to the question. In life we have the followers mentality. Very rarely are their leaders, people like to play safe. Just like Bitcoin, we all knew about it but not many of us adopted it in its early phase because we were following the majority. Surely if Bitcoin was a good idea more people would have been involved? No, Bitcoin was always a good idea but it was new and people were scared. After the boom and the missed opportunity people arrived in droves trying to cash in. The overnight dream of becoming a Millionaire, gone. Until now.
Now that a leading global investment banking firm has entered the cryptosphere many more will follow and soon enough mainstream banks will enter it too in order to cash in on winfalls and they experience their own form of FOMO.
Whose coming next?
No doubt with the recent publication that Goldman Sachs has entered the cryptosphere and currently undertaking market research many more banks will be doing the same. The obvious top two picks is Etherum and Bitcoin and all the created stable coins. But my money is on governance tokens too. Where they have been developed to allow decentralisation there is nothing stopping these players buying the majority of coins and holding ownership.
You hold the majority of governance tokens you set the rules, there aren't any rules or regulations in this game yet that stops behemoths (we need a name bigger than Whale for what's coming) taking hold.
My advice to you
Start now, research coins and get in early, make sound decisions and invest smartly. Don't spend more than you can afford to lose and be wise. Following others isn't always the best way as you maybe jumping into an investment too late.
The entry of Major investment firms and no doubt more banks to come will see the Crypto market expand beyond we originally thought. Pick up a finance book and learn what sorts of investments bankers make and look at returns.
Don't forget Bitcoin is tipped to continue to rise 10% per annum. Dont be frightened of market declines as investments aren't straight runs to the top, they are roller coasters with many ups and downs. So choose wisely.
Let me know in the comments section below on your thoughts about Goldman Sachs entering the Cryptoshphere. Is there a gold rush coming?