CEO of Goldman Sachs: Thinking that the cryptocurrency will not succeed is “arrogant”
CEO of Goldman Sachs: Thinking that the cryptocurrency will not succeed is “arrogant”

Goldman Sachs CEO Lloyd Blankfein, one of the largest investment banks in the $ 87 billion global financial sector, has criticized skeptics who think Bitcoin and CryptoCurrency are not the future.

Open and forward thinking
Since the beginning of 2017, Blankfein has stated that he does not yet believe that the crypto money market has become a major asset class. However, investors noted that they should see the crypto-currencies as bitcoins as a new asset class and that the potential of the crypto-currency and block-chain industry should be identified.

At the New York Economy Club conference, Blankfein said:

“If you go through this price currency, I can say that it is worth it, because I say the government, why do not you have a consensus money?”

Earlier in an interview with CNBC’s Kayla Tausche, Blankfein repeated a similar sentiment about Bitcoin, describing a period in American history that the US government suddenly lifted the gold standard. it is replaced by a paltry currency.

At that time, US-based companies, individuals and investors, made it difficult to accept and accept the US dollar in the form of a paper currency, an alternative to gold that has been widespread for centuries. .

Just as paper money is forced to make the natural progression of gold, Blankfein explained that one day Bitcoin could be a natural progression from the cash money to the digital money and it does not make sense. crypto-currency. Blankfein, which will become a reserve currency, announced that it was open to the crypto money market as an emerging asset class.

“The five-dollar gold coin was worth five dollars, because it had five dollars worth of gold, then it took out the paper money that was supported by cash, then one day, it took out the paper money without the gold support. I say this paper is five dollars and that it is five dollars and that many people do not use it for a long time But now they do it without asking questions You keep going a bit further and this is a bitcoin without a fiat currency so I do not trust and do not like it On the other hand, if it works, I can say that there can be a natural progression from the money to the digital money, Blankfein.

Goldman Sachs runs a Cryptocurrency trading desk
Earlier this week, for the first time in the bank’s history, Goldman Sachs chief operating officer David Solomon confirmed rumors that he was working to set up a crypto-currency trading desk beyond Goldman Sachs. future.

Beyond clearing Bitcoin’s future, Solomon said the bank has tested crypto-currency transactions with extreme caution and has opened a crypto-currency trading desk for its customers in the near future.

“We are listening to our customers and trying to help our customers with their discoveries,” Solomon said. Said.


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