Doing a 180 – Goldman Sachs Goes Crypto

Goldman Sachs Sees Summer of Bitcoin 2018
Bloomberg reports that banking institution Goldman Sachs is set to launch a cryptocurrency trading desk by July of next year.

Goldman is mainstream within the mainstream, topped off with some extra mainstream in case anyone was wondering about its mainstream cred. It just doesn’t get any more American banking than the 150 year old institution. It’s an integral part of any US weighted financial average, including the Dow Jones Industrial Average (DJIA) and the S&P 100 and 500 components. It boasts over 35 billion USD in revenue and has enough employees to nearly sell out a professional baseball stadium.

Take a job at Goldman and there’s a chance you just might end up running Europe’s central bank (Mario Draghi), landing the printing press at the US Treasury (Steven Mnuchin), heading the Bank of England (Mark Carney), or become prime minister of Australia (Malcolm Turnbull). And should Goldman ever have financial trouble, not to worry: taxpayers will float a cool ten billion dollars in relief just because, well, it’s Goldman!

According to the report, Goldman is “still trying to work out security issues as well as how it would hold, or custody, the assets.”