After months of
Goldman Is Preparing To Launch A Cryptocurrency Trading Desk, Goldman announced that it would like to appoint Justin Schmidt to help it explore clients' interests about bitcoin and cryptocurrencies and allow them to gain exposure to cryptocurrencies.
“In response to client interest in various digital products, we are exploring how best to serve them in the space,”
Tiffany Galvin, a spokeswoman, said in a statement Friday. “At this point, we have not reached a conclusion on the scope of our digital asset offering.”
Now the voices rise from description Bitcoin as a bubble to a virus.
What has been confirmed is that we will notice increase institutional involvement in cryptocurrencies ----> regulation and maybe accepted in future?
What do you think?
Goldman is a business entity, so they will always try to do a market survey before starting a new venture to estimate how much money they can make out of it. So I won't be surprised if they call their customers for an open discussion to understand the market potential. Also there is a risk factor associated to it. Bitcoin is not yet accepted by the majority of the governments and its status is still unclear. So it is a big risk for a traditional financial institution as it involves their reputation as well. So they will judge the water before jumping into it.
However, if they finally decides to jump into this market, I am sure, it will pave ways for the other big players too. There are many big corporates sitting with tons of cash but they are not investing their money into crypto currency assets, because of the unclear legislation. If Goldman finally steps into this market after studying and removing all bottlenecks, it will be used as a reference to many other biggies and we will see billions of dollars coming into this market for good. I won't be surprise of it finally takes us to the road of legalizing bitcoin.
