Should Goldman Sachs CEO Blankfein be open to Bitcoin and cryptocurrency

(Last Updated On: November 6, 2017)

This was the latest from a recent podcast:

I’m looking at an article on November 2nd where Lloyd Blankfein, the CEO of Goldman Sachs, said he’s not comfortable with Bitcoin, but he’s open to it. When you hear the CEO of Morgan Stanley say that it’s a bubble … Also in here, there’s a quote from the CEO of Credit Suisse saying the same thing, it’s the very definition of a bubble. Basically, what you’re hearing is the establishment, especially banks, governments, are afraid of Bitcoin. They’re afraid of an intangible currency that could come along, that cannot be regulated, that cannot be controlled, and evidently, that means they cannot make money over it. They cannot have any form of way to have you have to go through the bank to get their little cut to get access to it.

I’m somewhat hearing the argument of a bubble. Will Bitcoin blow up? Maybe, but I do firmly believe that there will be a digital currency, there will be a currency out there globally that will be hopefully recognized, and if it does get recognized, that it has no affiliation to a bank, has no affiliation to a government. Why? Because I’m tired of paying tax, and this is what the governments are afraid of. In my mind, will Bitcoin blow up? Quite possibly. Will what we know as all these alternative cryptocurrencies and exchanges blow up? Probably, but there will be something out there on a technical level that will hopefully be hacker-proof and basically mean that we, as consumers, we, as citizens of the world, can send transactions between each other in a variety of ways, where it’s anonymous, where it is, has no transactions fees, and basically, it can be trusted.

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