{"id":12103,"date":"2022-05-13T10:48:54","date_gmt":"2022-05-13T10:48:54","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/index.php\/2022\/05\/13\/goldman-sachss-first-bitcoin-backed-loan-and-its-impact-on-btc\/"},"modified":"2022-05-13T10:48:54","modified_gmt":"2022-05-13T10:48:54","slug":"goldman-sachss-first-bitcoin-backed-loan-and-its-impact-on-btc","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/goldman-sachss-first-bitcoin-backed-loan-and-its-impact-on-btc\/","title":{"rendered":"Goldman Sachs\u2019s First Bitcoin-Backed Loan and Its Impact on BTC"},"content":{"rendered":"<p><b>(Originally posted on : Analysis Archives &#8211; Best Bitcoin Exchange )<\/b><br \/>\n<\/p>\n<div>\n<ul>\n<li>\n<p dir=\"ltr\">Goldman Sachs Group Inc. offered its first-ever lending facility, which is backed by Bitcoin (BTC) as a cryptocurrency.\u00a0<\/p>\n<\/li>\n<li>\n<p dir=\"ltr\">Solana\u2019s co-founder claims that Bitcoin will lose users if it does not adopt Proof-of-Stake (PoS)<\/p>\n<\/li>\n<li>\n<p dir=\"ltr\">Finland to Donate Seized Bitcoin (BTC) to Ukraine.<\/p>\n<\/li>\n<\/ul>\n<p dir=\"ltr\">As Bitcoin (BTC) is one of the largest cryptocurrencies and has remained in the #1 spot in terms of market capitalization ever since its creation, there are numerous developments and news surrounding it on a daily basis.<\/p>\n<p dir=\"ltr\">Bitcoin has seen a significant level of appeal for a lot of investors. However, there are concerns surrounding its future as well.<\/p>\n<h2>Goldman Sachs\u2019s Bitcoin-backed loan offering and Finland\u2019s BTC donation as catalysts for growth<\/h2>\n<p dir=\"ltr\">Goldman Sachs Group Inc. has announced that it is offering its first-ever lending facility, one\u00a0<a href=\"https:\/\/www.bloombergquint.com\/onweb\/goldman-offers-its-first-bitcoin-backed-loan-in-crypto-push\" rel=\"noopener noreferrer\" target=\"_blank\"><u>that is backed by the Bitcoin (BTC) cryptocurrency<\/u><\/a>. This marked a major step for the U.S. bank that accelerated Wall Street\u2019s acceptance of cryptocurrencies.<\/p>\n<p dir=\"ltr\">This secured lending facility lent cash collateralized by Bitcoin, which is owned by the borrower, according to a spokesperson from the bank.\u00a0<\/p>\n<p dir=\"ltr\">Furthermore, Anatoly Yakovenko, the co-founder of Solana, also said that he believes that Bitcoin might face the risk of users leaving if it fails to adopt Proof-of-Stake (PoS).\u00a0<\/p>\n<p dir=\"ltr\">This was\u00a0<a href=\"https:\/\/www.cnbc.com\/video\/2022\/04\/27\/crypto-prices-rebound-solanas-co-founder-bitcoin-proof-of-stake-crypto-world.html\" rel=\"noopener noreferrer\" target=\"_blank\"><u>announced in a recent interview with CNBC<\/u><\/a>, where Yakovenko stated that most of the networks that people use today would eventually move to the PoS model.<\/p>\n<p dir=\"ltr\">The Finland government will also reportedly donate Ukraine 1981 Bitcoin (BTC), which was seized by its customs officials in connection with several criminal operations.<\/p>\n<p dir=\"ltr\">According to\u00a0<a href=\"https:\/\/www.hs.fi\/politiikka\/art-2000008776376.html\" rel=\"noopener noreferrer\" target=\"_blank\"><u>the Finnish media outlet<\/u><\/a> Helsingin Sanomat, the sources did not rule out handing its stash of Bitcoin \u201cdirectly to Ukraine.\u201d<\/p>\n<p dir=\"ltr\">Sources had stated that the decision on how much of the sale would be donated to Ukraine is yet to be made.<\/p>\n<h2>Should you buy Bitcoin (BTC)?<\/h2>\n<p dir=\"ltr\">On April 29, 2022, Bitcoin (BTC) had a value of $39,501.34.<\/p>\n<p dir=\"ltr\"><\/p>\n<p dir=\"ltr\">In order for us to see what kind of value point this is for the BTC cryptocurrency, we will be going over its all-time high value, alongside its performance throughout the previous month.<\/p>\n<p dir=\"ltr\">When we go over the all-time high point of value of Bitcoin (BTC), we can see that on November 10, 2021, the coin reached a value of $69,044.77.\u00a0<\/p>\n<p dir=\"ltr\">This means that at its ATH, the coin was $29,543.43 higher in value, or by 75%.<\/p>\n<p dir=\"ltr\">With that in mind, when we take a look at how the coin performed throughout the previous month, Bitcoin (BTC) had its lowest point on March 7, at $37,351.3, while its highest point was on March 28 at $47,938.14.<\/p>\n<p dir=\"ltr\">Here, we can see that BTC saw an increase in value of $10,586.84 or 28%.<\/p>\n<p dir=\"ltr\">With all of this in mind, we can expect Bitcoin (BTC) to get back up in value to over $42,000 by the end of May 2022, making it a solid coin to buy.<\/p>\n<\/p><\/div>\n<p><a href=\"https:\/\/www.bestbitcoinexchange.io\/news\/goldman-sachss-first-bitcoin-backed-loan-and-its-impact-on-btc\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Analysis Archives &#8211; Best Bitcoin Exchange ) Goldman Sachs Group Inc. offered its first-ever lending facility, which is backed by Bitcoin (BTC) as a cryptocurrency.\u00a0 Solana\u2019s co-founder claims that Bitcoin will lose users if it does not adopt Proof-of-Stake (PoS) Finland to Donate Seized Bitcoin (BTC) to Ukraine. As Bitcoin (BTC) [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":12104,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[37],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/12103"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=12103"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/12103\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/12104"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=12103"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=12103"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=12103"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}