Goldman Sachs Survey Shows Insurers Are Warming Up to Bitcoin and Crypto

    Wall Street banking big Goldman Sachs not too long ago launched the info from its annual insurance coverage survey. Interestingly, for the primary time, the survey had an outlook on cryptocurrencies.

    After surveying almost 328 high executives from insurance coverage corporations, 6% of the respondents mentioned that they’re already invested in crypto or trying to search publicity. These respondents collectively deal with virtually half the $26 trillion international insurance coverage business.

    Interestingly, a lot of the insurers exhibiting curiosity in crypto are from America. “The vast majority of insurers are not considering investing in cryptocurrencies,” in accordance to the report. “American insurers are slightly more interested”. Goldman Sachs’ international head of insurance coverage asset administration and liquidity, Mike Siegel said:

    “We had respondents that represented over $13 trillion worth of assets, which is about half of the global industry’s assets. So, we think that the survey is very representative of what the industry is thinking.”

    However, cryptocurrencies weren’t probably the most most popular possibility. They got here fifth in selection after non-public fairness, commodities, and rising market equities. Interestingly, they stood above company loans, conventional banking loans, finance firms, and debt funds. Recently, even Wall Street big JPMorgan said that they would favor investing in cryptocurrencies over actual property.

    Companies Interested to Know About Bitcoin and Crypto

    The latest survey from Goldman Sachs reveals that insurance coverage corporations, nevertheless, present curiosity in studying about crypto and the supporting infrastructure. Siegel mentioned:

    “If this becomes a transactable currency, they want to have the ability down the road to denominate policies in crypto. And also accept premium in crypto, just like they do in, say, dollars or yen or sterling or euro”.

    It will likely be attention-grabbing to see if insurers begin accepting crypto funds anytime sooner or later. Of course, that will likely be topic to how regulatory insurance policies within the U.S. and worldwide take form. While insurers have been a bit reluctant about crypto, they’re optimistic in regards to the underlying blockchain know-how. The use of blockchain will solely deliver higher transparency to this sector.

    Bhushan is a FinTech fanatic and holds a superb aptitude in understanding monetary markets. His curiosity in economics and finance draw his consideration in direction of the brand new rising Blockchain Technology and Cryptocurrency markets. He is repeatedly in a studying course of and retains himself motivated by sharing his acquired data. In free time he reads thriller fictions novels and typically discover his culinary abilities.

    The introduced content material might embrace the private opinion of the writer and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The writer or the publication doesn’t maintain any accountability in your private monetary loss.

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