Published On: Thu, Nov 30th, 2017

Goldman Sachs: Bitcoin Volatility Means Hands-Off ‘Today’ And ‘For Lifetime’

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“Not today” and “not in our lifetime” are two ‘deadlines’ for Goldman Sachs to deal with Bitcoin, according to CEO Lloyd Blankfein and Michael Bloomberg.
Blankfein: Volatility Killed The Cat
Speaking in a joint interview on Bloomberg’s TV network, the two veteran economic voices said that in view of Bitcoin’s continued volatility, the virtual currency first needs to calm down.
“Have to have [a Bitcoin strategy]? Not today,” Blankfein replied on the topic.
…Something that moves up and down 20 percent in a day doesn’t feel like a currency, doesn’t feel like a store of value. If it works out – and it gets more established, and it trades more like a store of value, and it doesn’t move up and down 20 percent, and there is liquidity to it – we’ll get to it.
Bitcoin has become a talking point on Wall Street in recent months, and its reputation received a noticeable boost when CME Group announced it would offer Bitcoin futures next month. Nasdaq’s announcement that it, too, would be offering Bitcoin futures, is sparking further interest.

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