[2015-05-03] TheMotleyFool: You'll Never Guess Who's Investing in Bitcoin

[pawel7777]

You'll Never Guess Who's Investing in Bitcoin

http://www.fool.com/investing/general/2015/05/03/youll-never-guess-who-is-investing-in-bitcoin.aspx

Goldman Sachs recently announced that it was partnering with a Chinese investment firm to lead a $50 million investment into Bitcoin start-up Circle Internet Financial. This deal represents the first large investment of its kind by a major bank, and it definitely could make a big difference in the Bitcoin space as well as the way we transfer money in our everyday lives. So what does Circle Internet Financial do, and why is it the first Bitcoin company to attract an investment from a major bank?
...

[unamis76]

No wonder these guys want in. They're not the first banking institution/stock related company to approach Bitcoin, in one way or another.

As I've said before on other threads, I think this is proof they see Bitcoin as something dangerous for them. And it's like they say, if you can't beat them...

[pawel7777]

Some people say Banks invest into Bitcoin startups to fight their enemies from the inside. They find out what's all about with the Blockchain etc and then they come up with their own technology and Bitcoin will go down.

They don't need to invest in start-ups to learn about blockchain. And, in fact, IBM is allegedly working on some blockchain-like technology that is supposed to change the financial system:

http://www.reuters.com/article/2015/03/12/us-bitcoin-ibm-idUSKBN0M82KB20150312

[Chef Ramsay]

They want more profits and they know what's about to be going on in this league. Better and cheaper to play with us than to shut it down (if they could) and start from scratch.

[Kprawn]

They going to create something with NO anonymity and full centralized control. {Who wants to bet on that?}

It will not be a public ledger. {It cannot be, with NO anonymity} and the hardware/software to run and maintain this will be hosted by IBM. {Data Centres}

The core principle would be built around, Ripple. 

[Lethn]

While it's definitely no long term project, Goldman Sachs gets money directly from the federal reserve, so short term it might be fun to ride the hyperinflation wave and trade up your coins, it'd be risky though.

[whenwhatwherewhyhow]

Some people say Banks invest into Bitcoin startups to fight their enemies from the inside. They find out what's all about with the Blockchain etc and then they come up with their own technology and Bitcoin will go down.

I don't think that is anything to wink or smile about, but I agree with you.  It feels like the oil industry buying the electric trolley's so they can kill them.