On October 3rd, Goldman Sachs (GS) CEO put out the following comment on Twitter about Bitcoin.
Still thinking about#Bitcoin. No conclusion - not endorsing/rejecting. Know that folks also were skeptical when paper money displaced gold. - Lloyd Blankfein (@lloydblankfein) October 3, 2017
The statement is in sharp contrast to the position taken by Jamie Dimon of JPMorgan (JPM) who said when speaking at a conference in early September 2017 that "Bitcoin is a fraud that ultimately will blow up."
On October 31st, the CME Group Inc., the world's largest derivative exchange operator, said it would provide a regulated trading venue for the cryptocurrency market and would launch the new derivatives in the fourth quarter of 2017.
Read More Here: https://seekingalpha.com/article/4119466-bitcoin-stay-destined-bust
When the CEOs of the two largest financial institutions in the world take opposing views on a small, controversial change in the financial marketplace, and the CME announces plans to trade derivatives on the cryptocurrency, it is worth some time to investigate what is going on.
Thanks for the post.
I read the linked material and was surprised to see:
"Goldman Sachs makes a large portion of their profits on trading, and word on the Street is that they are contemplating opening a Bitcoin trading desk."
2018 I think we are going to see PARABOLIC movement for BTC. In my mind the only question is whether the alts come along for the ride or really continue to lag behind.
#HODL
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You are most welcome! You are 100% right on your assessment. It's going to be interesting see the direction the likes of JP Morgan take as time goes on.
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