Goldman Sachs CEO Bitcoin Opinion comes as the first official Bitcoin acknowledgment by a major bank. What did Loyyd Blankfein have to say about the king of the top cryptocurrencies?
6 November, AtoZForex – Numerous financial institutions have been expressing their strict stance in regards to the digital currencies. In fact, some of the major entities, such as Goldman Sachs, have remained wary of Bitcoin. This is despite the developing situation in the markets.
Wall Street Bitcoin Controversy
The Chief of Goldman Sachs has shared his opinion in regards to the king of the top cryptocurrencies. He has acknowledged that there is no reason for Bitcoin dismissal. As a matter of fact, Goldman Sachs has been a lot more patient in regards to Bitcoin in comparison to other financial institutions.
For instance, another official, JP Morgan Chase chief executive Jamie Dimon, has been pretty harsh on Bitcoin. He has sharply condemned cryptocurrency Bitcoin as a fraud. He described it as worse than tulip bulbs during a banking industry conference organized by Barclays.
In contrast, Goldman Sachs has never closed customer bank accounts for cryptocurrency transactions. Moreover, this bank’s officials have not been expressing any criticism in regards to the cryptomarket.
Goldman Sachs CEO Bitcoin Opinion
Following on this, Goldman Sachs analysts have actually been advising clients on the price of Bitcoin. Such initiative has been positively met by the digital currency supporters and other institutional investors.
Furthermore, the CEO of Goldman Sachs Lloyd Blankfein has stated that Bitcoin cannot be dismissed. While some of the years have been quite hard for the digital currency, there is no sense in denying that the crypto market has been rapidly developing. Particularly, the recent Bitcoin movements have attracted a lot of attention from all global industries.
In addition, Mr. Blankfein has talked about fiat currencies. He has highlighted that fiat money, is, in fact, a blank promise by a bank to honor the value printed on the paper. Also, he has stated that there is no reason for people to remain skeptical about Bitcoin. Yet, Mr. Blankfein made it clear he is not a fan of cryptocurrencies.
These remarks by Goldman Sachs CEO mark the first official acknowledgment of the Bitcoin by a major bank.
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