Goldman Sachs is flirting with bitcoin trading
Goldman Sachs is flirting with the idea of setting up a bitcoin trading shop.
The Wall Street powerhouse is in the very early stages of potentially setting up a bitcoin trading operation, according to a report by The Wall Street Journal's Paul Vigna, Telis Demos, and Liz Hoffman.
"In response to client interest in digital currencies we are exploring how best to serve them in this space," a Goldman spokeswoman told The Journal.
If Goldman follows through, they would be the first blue-chip financial services firm to break into the cryptocurrency market, which this year has exploded in value.
Goldman's C-Suite has kept pretty quiet about digital coins. Meanwhile, the rest of Wall Street has mixed reviews. On one hand, JPMorgan CEO Jamie Dimon called bitcoin "a fraud" and likened it to the tulips bulbs bubble of the 1600s. On the other, James Gorman, Morgan Stanley's chief executive officer, has taken a more moderate position on bitcoin, saying last week it is "more than just a fad."
Bitcoin, the largest cryptocurrency by market cap, is up 360% year-to-date.
Read the full Journal report >>
MI
Get the latest Bitcoin price here.
Next Story
I quit McKinsey after 1.5 years. I was making over $200k but my mental health was shattered.
Some Tesla factory workers realized they were laid off when security scanned their badges and sent them back on shuttles, sources say
I tutor the children of some of Dubai's richest people. One of them paid me $3,000 to do his homework.
Why are so many elite coaches moving to Western countries?
Global GDP to face a 19% decline by 2050 due to climate change, study projects
5 things to keep in mind before taking a personal loan
Markets face heavy fluctuations; settle lower taking downtrend to 4th day
Move over Bollywood, audio shows are starting to enter the coveted ‘100 Crores Club’
