Goldman Sachs joined the virtual currency trading industry

livevlog (7)in #bitcoin • 7 years ago

Goldman Sachs joined the virtual currency deal

JP Morgan CEO wants to dismiss employees who work for Bitcoin, but Goldman Sachs is waiting to recruit them

According to this morning's news, it is said that Goldman Sachs has begun to investigate and start the virtual currency transactions, and this is due to customer requirements. Quote from the company as follows:
"As a response to the company's customer requirements, we are studying how to better serve these customers in this area"

How does Goldman seek to enter the field of virtual currency transactions?

Is it interested in virtual currency transactions, or is it possible to be a futures contract? Or is it a digital asset? The latest news in this point is not very clear.
It is very likely that Goldman will participate in the transaction itself. However, any form of participation should be welcome, because it will bring pressure to buy and increase liquidity. This is benign.

At the same time, more players to join the field, but also makes legal compliance have more protection.

Is that so surprising?
On the one hand, Goldman Sachs was the only one on Wall Street to report on the deal, and on the other hand, Goldman Sachs was able to do the move a few days before Wall Street's other giant had just announced that it was fraud. This shows that their research is more in-depth. Other organizations have only reported on the block chain technology.
With this in mind, it is clear that Goldman's attitude towards Bitcoin and virtual currency transactions is more positive than that of other institutions.
The agency's funds began to enter the circle. There have been 75 institutions to enter the field of funds, and a few years ago, only a few only.

Why does Goldman do that?
Goldman Sachs trading sector to pursue a very high rate of return, and this year's second quarter will fall to 40%, so an urgent need to find a new growth point. Virtual currency in the past or may be a good choice.

Wall Street's most intelligent organization has been good at finding the highest quality of the highest rate of return on investment.

Goldman's former VP now serves as CEO at Blocktower capital, a virtual currency investment company.