In a recent report, investment bank Goldman Sachs ranked Bitcoin as the top asset this year. With a return of 27%, it appears second by a wide margin to emerging market investments, at 8%.
Another that was left behind was gold. Although it is also on the rise, Peter Schiff’s asset of choice appears with a yield of only 5%, occupying fourth place.
S&P 500, index that brings together the 500 largest US publicly traded companies, appears with gains of 2% in the year. Above that, 10-year US Treasuries are coming in at 4%, which could be a good deal for those who don’t like risk.
Bitcoin is also the best risk/reward investment, Goldman Sachs points out
Due to the volatility and lack of maturity of some companies in the industry, Bitcoin is often classified as a high-risk asset. However, Goldman Sachs placed Bitcoin at the top in this regard as well.
According to the bank, Bitcoin had a risk/reward of 3.1, mainly due to the big increase this year. By comparison, gold appears with a risk-adjusted return of 2. US Treasuries, which are low-risk, appear with a risk of 1.8.
A total of 25 investments were analyzed on two metrics, but none of them managed to outperform Bitcoin.
Interestingly, no other cryptocurrencies were covered in the study. So this shows that Bitcoin is on a different level and no other project is as recognized or trusted.
Goldman Sachs appears among FTX creditors
About Goldman Sachs, the bank appeared on the FTX’s list of creditors, which was published last Wednesday (25). Although the amounts were not disclosed, his presence, like many other names, was a surprise.
In addition, the spreadsheet also includes other banks such as HSBC, Santander and Silvergate, including large technology companies such as Amazon, Google, Microsoft and even Netflix, Spotify and BlackRock.
Therefore, even though Goldman Sachs placed Bitcoin as the best investment of 2023, it is important that investors choose well which brokerage they will use to trade it. After all, those hurt by FTX’s bankruptcy will have to wait a few years to be compensated, if at all.
Source: Live Coins
Barry Siefert is an accomplished journalist and author at The Nation View. He is known for his expertise in the field of cryptocurrency, and has written extensively on the topic. With a background in finance and economics, Barry has a deep understanding of the underlying technology and market forces that drive the crypto industry.