Oct 02, · Goldman Sachs exploring bitcoin trading operation, report says Goldman Sachs is considering the launch of a new trading operation focused on bitcoin and other digital currencies, a company official. Jun 06, · In May , reports speculated that Goldman Sachs had plans to open a Bitcoin trading desk, which have since been withdrawn. Rana Yared, one of the Goldman Sachs executives who reportedly oversaw. Dec 20, · Goldman Sachs on Bitcoin, Gold, Copper, and Inflation Hedge Jeff Currie, global head of commodities research at Goldman Sachs, revealed his outlook for bitcoin, gold, and copper on Thursday. Commenting on the recent surge in bitcoin’s price, he said on Bloomberg Markets that looking at its price chart, bitcoin looks “very similar” to copper.
Goldman exploring bitcoin tradingGoldman Sachs Is Exploring New Trading Operation for Bitcoin, Digital Currencies - Dow Jones
The banks exploration of the cryptocurrency trading is at the very beginning and and might bring another boost on the cryptocurrency market.
However, times have changed and cryptocurrencies are still on the rise. If you are working for JP Morgan, there will be no need to worry because if Dimon would fire you, another financial titan will be more than happy to get you in. It is more than clear that if institutional investors will increase investments on the cryptocurrency market, more and more cryptofunds will be launched. In case Goldman Sachs plans come true and it opens a Bitcoin desk, it will also attract the funds.
Password recovery. Goldman Sachs exploring bitcoin trading operation. By Thorsten Burger. October 3, The bank seems to take a closer look at bitcoin and other cryptocurrencies which might be a sign of beeing confident that cryptocurrencies are pretty serious and here to stay. Worked for big brands around the world as advisor, consultant, senior project lead and head within the financial industry, online banking, e-commerce and digital marketing.
All of my publications reflect my personal opinion and are no financial advise in any sense. China in recent weeks has banned exchanges that trade bitcoin, fearing the virtual currency could provide an avenue for capital flight. India and Sweden have mused about creating their own virtual currencies, and the U. Federal Reserve has studied both bitcoin and the technology underpinning it. Bitcoin is a digital currency that runs on a decentralized network of computers, rather than a centralized ledger under the control of a central bank or government.
Users can exchange value directly, without a middleman such as a bank. Big banks, including J. Morgan and Goldman, have dabbled in the technology behind bitcoin, known as blockchain, and opined on its potential to reshape industries. But they have been wary of venturing directly into a market whose early enthusiasts included anarchists and drug dealers.
As digital coins proliferate and draw interest from professional investors, though, they become harder for Wall Street trading desks to ignore. Its effort could eventually entail a team of traders and salespeople making markets in bitcoins much as they do Japanese yen or shares of Apple Inc. Keeping abreast of the day-to-day cryptocurrency market could also position Goldman to capitalize on further development of this market.
Digital-currency proponents envision a world where coins will be widely accepted by online retailers and companies will use the tokens for cross-border commerce. Already, cryptocurrencies are infringing on some traditional banking activities. Some startup companies that historically might have hired banks to take them public are bypassing Wall Street by selling digital tokens, rather than shares, to the public.
Launched in , bitcoin grew as a communal software project championed by cypherpunks, who embraced its technological promise, and libertarians, who cheered its independence from government influence. In recent years, more sophisticated exchanges have cropped up to host trading, attracting professional investors.