[2017-11-05] Goldman Sachs CEO: Bitcoin Can't Be Dismissed

[CryptoBry]

Banks and other financial institutions have opposed cryptocurrency for quite some time now. Major entities including Goldman Sachs have remained wary of Bitcoin, even though that situation is slowly changing. In fact, the CEO of Goldman Sachs recently acknowledged there is no reason to dismiss Bitcoin whatsoever. This sudden change of heart comes at an interesting time, to say the very least.

Banks and other financial institutions have opposed cryptocurrency for quite some time now. Major entities including Goldman Sachs have remained wary of Bitcoin, even though that situation is slowly changing. In fact, the CEO of Goldman Sachs recently acknowledged there is no reason to dismiss Bitcoin whatsoever. This sudden change of heart comes at an interesting time, to say the very least.

Goldman Sachs has been far less aggressive when it comes to opposing Bitcoin compared to some other institutions. It never closed customer bank accounts for buying or selling cryptocurrency, nor has its CEO attempted to discredit Bitcoin as a tulip mania. Other banks, especially in the US, have some conflicting opinions in this regard, but that is only to be expected. It is difficult to keep an open mind when it comes to a new form of money that may make banks completely obsolete in the future.

Moreover, Goldman Sachs has been one of the more interesting banks when it comes to cryptocurrency and digital assets these days. More specifically, Goldman Sachs analysts have actually been advising clients on the Bitcoin price over the past few months. This advice has been well-received by the cryptocurrency community, as well as from institutional investors alike. In a way, this has been an interesting development, as it shows the institution isn’t dismissing Bitcoin whatsoever.

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I am glad that officially it seems to me that Goldman Sachs would soon be entering the most lucrative world of Bitcoin. We might be hearing more about this financial giant entrance into cryptocurrency soon (that is if it has not already been a player in this sphere). I guess it is about time for them to realize that Bitcoin is here to stay whether they like it or not. No one can, for now, stop Bitcoin from its overarching vision of becoming the world's premiere currency and store of value even surpassing that of the physical gold.

This and more developments are happening while Bitcoin is showing its maintaining strength at above the $7,000 level. The recent surge is making Bitcoin more popular as we are welcoming more speculators into its bandwagon. In this case, we are hoping that there would be no overheating which may affect the future viability of Bitcoin. Too much of a good thing is not really good though am not really complaining (haha!).

Welcome to the Bitcoin Club, Goldman  Sachs!

[Falgorn]

At first, banks could resist the possibilities of crypto currency circulation as they could and with their statements sought to discredit the crypto currency, because it violated the financial system that had developed for centuries and received good profits. When they saw that the society very actively supports the crypto currency and proceeds to use it, they have nothing left to do but take digital money and try to use it in their own interests. Therefore, the essence of the statements of representatives of banks began to change from non-recognition to cooperation.

[Spaffin]

This statement is proof that the banks will not further prevent the population from using the crypto currency, because, as the interest in and support of the community increases, such counteraction to its use would have the opposite effect and banks would lose their clients, and as a consequence , its profit.

[Lucius]

It seems that the biggest critics starts to change their thoughts regarding BTC,although they perform very cautiously something is changing and I bet they smelled profit.Banks exist to make money and when they see that things are slowly getting out of control and that BTC can disrupt their business they looking for a way to take their piece of the pie.With today price of 7500$ per BTC and very promising future I think any great player will not stay on the sidelines.

[warrior333]

I would like to emphasize that in the end there is a careful reminder that he hoped that there will be overheating of the market. This is a serious warning. When the market is this uncontrolled activity of speculators can make. Bitcoin is a very good tool but it needs serious revision.

[DannaWonder]

As the saying says " if you can't beat them, join them". This is a good move for Goldman Sach's if they will start investing in bitcoin. They could expect for a higher profit if they will go first from the other big companies. And this news will surely boost the price of the coin more in the next days. Bitcoin is really achieving it goal. To the Moon!!!