Skip to main content

Bitcoin 3.10.2017 Goldman Sachs to Embrace Bitcoin?

The bitcoin revolution may be too good to pass up for one of Wall Street’s biggest firms. Goldman Sachs Group Inc. (GS) has announced that it is considering a new trading operation dedicated to BTC and other cryptocurrencies.

Goldman Sachs Weighs Digital Currency

The Wall Street Journal has confirmed that Goldman Sachs is in fact interested in bitcoin, and is currently exploring whether to begin trading the instrument. To clarify matters, a Goldman spokeswoman has this to say:
“In response to client interest in digital currencies we are exploring how best to serve them in this space.”
Though the firm has acknowledged it may not proceed, the fact that it’s interested could boost bitcoin’s standing in the mainstream investment community.
However, it’s not like bitcoin needs Wall Street’s approval. The world’s No. 1 digital token has more than quadrupled this year. Bitcoin is widely regarded as the face of the cryptocurrency market, which now extends to over 1,100 digital tokens.
Goldman’s open-minded approach to cryptocurrency is a welcomed break from the vitriol being spewed by other industry players. J.P. Morgan Chase & Co (JPM) Chief Executive Jamie Dimon recently called bitcoin a “fraud” and said he would fire any employee who dabbled in it. Less than a week later, it was confirmed that J.P. was already trading bitcoin on behalf of customers.

Big Banks Already Dabble in Blockchain

Despite Jamie Dimon’s adversarial outlook on bitcoin, his bank has already dabbled in the blockchain, the revolutionary technology behind cryptocurrency. Goldman Sachs has also explored the blockchain and its potential to reshape financial services.
Blockchain has enjoyed broad mainstream appeal, with governments and central banks experimenting with it. In fact, the author is of the opinion that interest in blockchain has been partly responsible for the rapid rise of cryptocurrency. Regardless of your views on digital currency, the technology behind it is too powerful to pass up.
The global cryptocurrency market is worth nearly $150 billion. As digital tokens proliferate, they will become harder for the major institutions to ignore.
Bitcoin values approached $4,500 on Monday, having gained more than 11% compared to last week.

Comments

Post a Comment

Popular posts from this blog

Analysis 23.10.2017 : Notable Bitcoin Price Growth Events in October

  October has been an interesting month for Bitcoin, with growth of about 40% so far, breaking a market cap of over $101,881,681,652. But if you are looking at Bitcoin long-term, this is more than just numbers now. Yes, Bitcoin did experience some explosive growth this month (and has been this entire year), but we shouldn’t let that distract us from some of the main components that will fuel Bitcoin’s growth in the long-term. Not only did the price break $6,000 per Bitcoin for the first time ever, we started to see Bitcoin’s market cap rate  surpass that of big banks such as Goldman Sachs ($93 billion) and Morgan Stanley ($89 billion) . While comparing the market capitalization of a cryptocurrency with that of publicly traded companies doesn’t make much financial sense, it’s entertaining to watch financial institutions stress out about Bitcoin. For example, the CEO of JPMorgan Chase Jamie Dimon  can’t stop talking  about Bitcoin and venting h...
Post a Comment
Read more

Trade Recommendation 31.10.2017: Litecoin

The price bounced from the uptrend line and moved above the cloud. The new high is a good level for placing buy orders. If the market moves above 59.00 level, we’ll have a confirmation of further price movement. DMI shows that bulls become stronger and we can expect new highs. Entry is 59.00 level with stop orders below the local swing low at 53.50 level. Profit targets are 70.00 and 80.00 levels.  If you don’t use leverage, recommended trading volume for this trade is up to 10% from your deposit. Market: LTCUSD Buy:  59.00 Stop:  53.00 Profit Targets:  70.00 and 80.00 The trading signal is based on Poloniex chart.
Post a Comment
Read more

3.10.2017 ICO Analysis: Gizer

The growth and widespread adoption of eSports has shined the spotlight on Gizer, the real-time platform connecting gamers, hosts and services. The Gizer Network provides the gaming community the opportunity to connect through tournament hosting, service and product listings, and brand sponsorships all found directly on the platform. For those unaware, eSports are multiplayer video games played competitively for spectators. What Is Gizer? The Gizer startup was officially launched in 2016. Over that short period, it has already acquired thousands of users worldwide. In September 2017, the official Gizer mobile app launched on the App Store, with Android development also moving to beta testing. Web application and localization into various languages are expected to continue throughout the year. The company is already eyeing partnerships with top eSports brands to commence as soon as February 2018. In a 2017 whitepaper, Gizer outlines its value proposition by iden...
Post a Comment
Read more