diff --git a/cmd/admin-handlers.go b/cmd/admin-handlers.go
index 0278c4ac9..5fa5d71c7 100644
--- a/cmd/admin-handlers.go
+++ b/cmd/admin-handlers.go
@@ -1054,15 +1054,8 @@ func (a adminAPIHandlers) ObjectSpeedtestHandler(w http.ResponseWriter, r *http.
 		autotune = false
 	}
 
-	err = objectAPI.MakeBucketWithLocation(ctx, globalObjectPerfBucket, BucketOptions{})
-	if _, ok := err.(BucketExists); !ok {
-		// Only BucketExists error can be ignored.
-		writeErrorResponseJSON(ctx, w, toAPIError(ctx, err), r.URL)
-		return
-	}
-
 	deleteBucket := func() {
-		objectAPI.DeleteBucket(context.Background(), globalObjectPerfBucket, DeleteBucketOptions{
+		objectAPI.DeleteBucket(context.Background(), pathJoin(minioMetaBucket, "speedtest"), DeleteBucketOptions{
 			Force:      true,
 			NoRecreate: true,
 		})
diff --git a/cmd/globals.go b/cmd/globals.go
index 4aba95ff2..0e3068969 100644
--- a/cmd/globals.go
+++ b/cmd/globals.go
@@ -349,7 +349,6 @@ var (
 	// Used for collecting stats for netperf
 	globalNetPerfMinDuration = time.Second * 10
 	globalNetPerfRX          netPerfRX
-	globalObjectPerfBucket   = "minio-perf-test-tmp-bucket"
 
 	// Add new variable global values here.
 )
diff --git a/cmd/perf-tests.go b/cmd/perf-tests.go
index 52a4df7f2..3ac43d859 100644
--- a/cmd/perf-tests.go
+++ b/cmd/perf-tests.go
@@ -24,7 +24,6 @@ import (
 	"io"
 	"io/ioutil"
 	"math/rand"
-	"net/http"
 	"sync"
 	"sync/atomic"
 	"time"
@@ -32,8 +31,8 @@ import (
 	"github.com/dustin/go-humanize"
 	"github.com/google/uuid"
 	"github.com/minio/madmin-go"
-	"github.com/minio/minio-go/v7"
-	"github.com/minio/minio-go/v7/pkg/credentials"
+	"github.com/minio/minio/internal/hash"
+	xhttp "github.com/minio/minio/internal/http"
 	"github.com/minio/pkg/randreader"
 )
 
@@ -62,15 +61,6 @@ func selfSpeedtest(ctx context.Context, size, concurrent int, duration time.Dura
 	var totalBytesWritten uint64
 	var totalBytesRead uint64
 
-	client, err := minio.NewCore(globalLocalNodeName, &minio.Options{
-		Creds:     credentials.NewStaticV4(globalActiveCred.AccessKey, globalActiveCred.SecretKey, ""),
-		Secure:    globalIsTLS,
-		Transport: globalProxyTransport,
-	})
-	if err != nil {
-		return SpeedtestResult{}, err
-	}
-
 	objCountPerThread := make([]uint64, concurrent)
 
 	uploadsCtx, uploadsCancel := context.WithCancel(context.Background())
@@ -81,15 +71,15 @@ func selfSpeedtest(ctx context.Context, size, concurrent int, duration time.Dura
 		uploadsCancel()
 	}()
 
-	objNamePrefix := uuid.New().String() + "/"
+	objNamePrefix := "speedtest/objects/" + uuid.New().String()
 
 	wg.Add(concurrent)
 	for i := 0; i < concurrent; i++ {
 		go func(i int) {
 			defer wg.Done()
 			for {
-				reader := newRandomReader(size)
-				_, err := client.PutObject(uploadsCtx, globalObjectPerfBucket, fmt.Sprintf("%s/%d.%d", objNamePrefix, i, objCountPerThread[i]), reader, int64(size), "", "", minio.PutObjectOptions{})
+				hashReader, err := hash.NewReader(newRandomReader(size),
+					int64(size), "", "", int64(size))
 				if err != nil {
 					if !contextCanceled(uploadsCtx) && !errors.Is(err, context.Canceled) {
 						errOnce.Do(func() {
@@ -99,7 +89,25 @@ func selfSpeedtest(ctx context.Context, size, concurrent int, duration time.Dura
 					uploadsCancel()
 					return
 				}
-				atomic.AddUint64(&totalBytesWritten, uint64(size))
+				reader := NewPutObjReader(hashReader)
+				objInfo, err := objAPI.PutObject(uploadsCtx, minioMetaBucket, fmt.Sprintf("%s.%d.%d",
+					objNamePrefix, i, objCountPerThread[i]), reader, ObjectOptions{
+					UserDefined: map[string]string{
+						xhttp.AmzStorageClass: storageClass,
+					},
+					Speedtest: true,
+				})
+				if err != nil {
+					objCountPerThread[i]--
+					if !contextCanceled(uploadsCtx) && !errors.Is(err, context.Canceled) {
+						errOnce.Do(func() {
+							retError = err.Error()
+						})
+					}
+					uploadsCancel()
+					return
+				}
+				atomic.AddUint64(&totalBytesWritten, uint64(objInfo.Size))
 				objCountPerThread[i]++
 			}
 		}(i)
@@ -130,10 +138,10 @@ func selfSpeedtest(ctx context.Context, size, concurrent int, duration time.Dura
 				if objCountPerThread[i] == j {
 					j = 0
 				}
-				r, _, _, err := client.GetObject(downloadsCtx, globalObjectPerfBucket, fmt.Sprintf("%s/%d.%d", objNamePrefix, i, j), minio.GetObjectOptions{})
+				r, err := objAPI.GetObjectNInfo(downloadsCtx, minioMetaBucket, fmt.Sprintf("%s.%d.%d",
+					objNamePrefix, i, j), nil, nil, noLock, ObjectOptions{})
 				if err != nil {
-					errResp, ok := err.(minio.ErrorResponse)
-					if ok && errResp.StatusCode == http.StatusNotFound {
+					if isErrObjectNotFound(err) {
 						continue
 					}
 					if !contextCanceled(downloadsCtx) && !errors.Is(err, context.Canceled) {