Goldman Sachs Is Seeking To Explore Crypto Derivatives

One of the leading United States financial groups Goldman Sachs is currently seeking to explore crypto trading derivatives. This comment was made by the COO (Chief Operating Officer) while he was speaking to correspondents. David Solomon who happens to be the COO also told newsmen that this investment group is already helping clients in generally traded derivatives like Bitcoin Futures, he went further to state that the company is already considering multiple of other activities which are all in line with exploring crypto derivatives. Solomon went further to state that the main aim of this investment group is to regularly evolve its business as well as adapt to its environment and this is in respect to cryptocurrencies. Solomon further stated that the investment group is clearing some future around Bitcoin, he went further to explain that the company is doing this cautiously at the same time listening to their clients and also offer solutions as they explore these cryptos.

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CEO of Goldman Sachs Lyold Blankfein while speaking to a group of people also confirmed his stance on cryptocurrencies. He explained that the mass adoption of Bitcoin and other cryptocurrencies will definitely happen in the future, he compared it to the time when fiat currencies replaced gold and silver coins. This clearly shows that the entire company have a positive stance on cryptocurrencies and this is a good thing to cryptos as this Investment group is quite reputable.

The view of this Investment group has changed in the last few years as cryptocurrencies have experienced an unprecedented rise in market value and fame. You will remember fondly in 2014 when this investment group outrightly stated that cryptocurrencies do not possess the quality to be called currencies. In less than three years after this statement was made, the group also released another statement this time saying that right now it is easy for retail and institutional investors to keep ignoring the investment potentials of Bitcoin and other cryptocurrencies. As at December 2017, a news was gaining grounds that this investment group was on the verge of opening a crypto trading platform for its clients to begin trading cryptocurrencies. This rumor was outrightly denied by the firm after it got to their attention, but in the last couple of months, the company's stance on cryptocurrencies have softened drastically. Just last month, the firm announced that cryptocurrencies are not and should never be called a "scam" or "fraud". They further revealed their true intentions to begin trading cryptocurrencies.

This new stance of this leading investment group as a great news for all crypto enthusiasts all over. Although it has been predicted that most business firms that at first criticized cryptocurrencies would definitely begin to trade them, and this is because of the great benefits of investing and trading them. We can only wait to see which other business firm follows behind Goldman Sachs, but be rest assured that we will be the first to report it once other Investment groups follow.