The Drop in Crypto Has Little Impact on the US Economy, According to Goldman Sachs Report

A study by US banking giant Goldman Sachs stated that the decline in the cryptocurrency market has little impact on the spending of US citizens.

A report by Goldman Sachs on May 19 said, “The US public may own a third of the total cryptocurrency market, but that does not mean the decline will have an impact on the economy.” it was said.

Goldman Sachs economists predict that this decline will be in the last quarter of 2021. 150 trillion dollars in assets US people estimated to have to influence their spending. It says it’s low. In addition, according to economists, the declines in all markets in recent times have decreased the value of the US total assets. reduced by $8 trillion it could be.

According to the report, worsening financial conditions this year’s company while slowing their growth their expenses in will reduce. in the crypto market the effect of the falls it won’t.

According to the news of Bloomberg on April 28, banking giant Goldman Sachs, bitcoin collateral for cash He gave his first bitcoin-backed loan.

Goldman Sachs Issues First Bitcoin Secured Loan