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Home » Blog » Goldman Sachs Names Bitcoin the Best Asset of 2023
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Goldman Sachs Names Bitcoin the Best Asset of 2023

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Last updated: 20/03/2023 10:09 PM
Coinworldstory
3 years ago
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Goldman Sachs Names Bitcoin the Best Asset of 2023
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Analysts at the investment bank Goldman Sachs called bitcoin the best asset of the year – the rate of the first cryptocurrency among all major assets has grown the most in less than three months.

In absolute terms, the first cryptocurrency has risen in price by 51% since the beginning of the year. The BTC rate has exceeded $28,000 and banking analysts expect a large-scale continuation of growth.

Bitcoin outperformed IT (+15%), telecoms (+15%), consumer goods (+11%), Russell 1000 Growth (+10%), gold (+4%) and S&P 500 stocks (+4%). And in terms of the Sharpe ratio (which determines the risk-adjusted return), bitcoin also took the lead.

The indicator was 1.9. For comparison, for IT companies, the ratio is 1.5, for the Nasdaq stock index it reached 1.4, and for healthcare companies, the Sharpe ratio went into minus (-1.1). Analysts at Goldman Sachs believe that the first cryptocurrency is growing in anticipation of monetary easing by the US Federal Reserve.

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In addition, the banking crisis in the United States has forced many investors to look for safer ways to invest. Their list includes bitcoin , which is practically independent of traditional financial institutions.

But stablecoins are dependent , as they store a significant part of the reserves in banks. Therefore, investors transfer part of their savings from stablecoins to BTC.

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