Crypto Not a ‘Viable Investment,’ Goldman Sachs Says
Bitcoin has quadrupled in price since the last time Goldman's consumer division declared bitcoin not "suitable" for clients.
Howard has been an active investor in the crypto market for some time.
The May sell-off in crypto has seen a number of leveraged positions held by investors with losses.
The investment manager has tweaked its strategy and will now focus its crypto investments solely on bitcoin.
Net outflows from cryptocurrency funds totaled $44 million for the week ending June 25, marking the fourth consecutive week of redemptions.
It plans to use the funds to support blockchain projects through token swaps.