Did Goldman Sachs Just Give Bitcoin a Seal of Approval?
For crypto investors, 2022 is starting to feel like a distant memory. In 2023, cryptocurrencies like Bitcoin (CRYPTO: BTC) are soaring and investor appetite is returning for even the riskiest tokens. Even Goldman Sachs Group (NYSE: GS) -- once a critic of the crypto asset class -- is getting into the act. According to a new Goldman Sachs report, Bitcoin is now the best-performing asset in the world on both an absolute and risk-adjusted basis.
The findings from that report could have important implications for Bitcoin's future price trajectory. Remember, it was just one year ago that Goldman Sachs slapped a $100,000 price target on Bitcoin, so this report might mark the much-anticipated return of bullish sentiment for crypto on Wall Street in 2023.
Goldman Sachs compared both risk-adjusted and absolute returns across 25 different asset classes. Bitcoin ranked No. 1 in absolute returns and No. 1 in terms of risk-adjusted returns. The next closest competitor was the MSCI Emerging Markets index, but it wasn't even close. The MSCI Emerging Markets index offered a lower absolute return and lower risk-adjusted returns as well.
Source Fool.com
