Technology

Goldman Sachs Bitcoin Survey Shows Insurers Beginning To Warm To Crypto Investing

Banking giant Goldman Sachs recently released the eleventh edition of its annual insurance survey. Cryptocurrency was included for the first time. The survey of 328 chief investment officers and chief financial officers, representing nearly half the $26 trillion global insurance industry, indicated that six percent of respondents were invested in crypto or considering doing so. While the vast majority of insurance companies responded that they weren’t invested in cryptocurrencies and weren’t considering doing so, the six percent or roughly 20 CIO’s who did respond affirmatively is surprising especially given the recent carnage in cryptocurrency markets. “We had respondents that represented over $13 trillion worth of assets, which is about half of the global industry’s assets,” said Goldman Sachs’ global head of insurance asset management and liquidity, Mike Siegel in a podcast hosted by the company. “So, we think that the survey is very representative of what the industry is thinking.”

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