Goldman Remains Aloof to Cryptocurrency, Mulls Crypto-Trading Services for Clients
At a Bloomberg event last Thursday, Goldman Sachs Group CEO Lloyd Blankfein revealed that the company is not rushing to formulate a strategy around Bitcoin. He cited the cryptocurrency’s volatility and said that something that fluctuates as much as 20% in a day “does not feel like a store of value”.
Blankfein added that they may trade Bitcoin once it shows less volatility and more liquidity. However, spokesperson Tiffany Galvin said that the company had already been exploring ways to offer digital trading services to their clients.
Bitcoin rose to a high of $11,395 last Wednesday, but lost around one-fifth on the following day.