Opinions: Goldman Sachs specialists are divided over the cryptocurrency and Bitcoin issue

Opinions: Goldman Sachs specialists are divided over the cryptocurrency and Bitcoin issue

In early 2018, Goldman Sachs accepted cryptocurrencies, arguing that Bitcoin is not a scam and has uncovered its plans to buy and sell cryptocurrency. But still, the opinions of employees vary on this point. Here is a collection of insights of top members of the company:

Lloyd Blankfein, CEO of Goldman Sachs Group Inc. feels skeptical about bitcoin:

If you could go through that fiat currency where they say this is worth what it's worth because I, the government, says it is, why couldn't you have a consensus currency?

Lloyd Blankfein, CEO of Goldman Sachs Group Inc.

Earlier, Lloyd Blankfein stated that he feels bitcoin 'a certain level of discomfort,' although in general, he is open to cryptocurrency. According to him, if in the future bitcoin takes a significant share of the financial market, this will be due to the natural evolution of money.

Later, the Goldman Sachs Chief Operating Officer, David Solomon, stated in an interview with Bloomberg TV in China:

We are clearing some futures around Bitcoin, talking about doing some other activities there, but it’s going very cautiously. We’re listening to our clients and trying to help our clients as they’re exploring those things too.

David Solomon, the Goldman Sachs Chief Operating Officer

Also, there are some Goldman Sachs’s ex-workers, who prefer to leave Wall Street and bullish Cryptos.

Mike Novogratz, CEO of Galaxy Investment Partners, ex-partner at Goldman Sachs has gone all in on crypto.

We are in the early stages of a fundamental transformation in financial markets due to the digitization of assets.

Michael Novogratz, CEO of Galaxy Investment Partners, ex-partner at Goldman Sachs

As well as, Christopher Matta, the Co-founder of Crescent Crypto Asset Management, and former Vice President at Goldman Sachs Investment Management Division, vote for cryptocurrencies, suggesting hold a large variety of altcoins, as opposed to bitcoin alone.

There’s various levels of correlation between these coins. But holding a basket of 20 versus just holding Bitcoin, you’re going to get better absolute end-risk adjusted returns because of that diversification benefit that you get.

Even though each coin may be incremental, it’s still better than holding something like Bitcoin. Your drawdowns will be less – less volatility with holding a diversified basket.

Christopher Matta, the Co-founder of Crescent Crypto Asset Management, and former Vice President at Goldman Sachs Investment Management Division

As you can see, one company — different opinions about cryptocurrencies. Whom do you support?

By continuing to browse, you agree to the use of cookies. Read Privacy Policy to know more or withdraw your consent.