Reaction: Goldman Sachs eyes Bitcoin operation
First Jamie Dimon publicly slags Bitcoin, then Goldman Sachs announces it is considering a trading operation dedicated to it. What is the cryptocurrency industry thinking?
Alex Mashinsky, CEO Celsius
“The amazing appreciation of cryptocurrencies in the past two years has greatly surpassed even the booming public market which are hitting new highs almost daily. Even GS can’t sit idle and see this asset class balloon without them. Over $150B in capital is now invested in this asset class and this number is expected to grow 10x over the next decade.”[caption id="attachment_55871" align="alignleft" width="200"] Bharat Rao[/caption]
Bharath Rao, CEO of Leverj, the decentralized exchange for cryptocurrency derivatives
“The returns on cryptocurrency have been nothing short of spectacular, and we are excited to see mainstream institutions entering this space. Among Wall Street firms, Goldman was one of the first to recognize the potential of bitcoin and the blockchain. Realizing crypto would be a significant part of the financial future is one thing; acting on it is another. A large financial institution will not jump straight into a market until it has checked the boxes for the necessary operational readiness, regulatory certainty, and technical depth.”