Goldman ramps up bitcoin trading — What it means for Wall Street and crypto | Crypto Craft

  • Goldman ramps up bitcoin trading — What it means for Wall Street and crypto

    From cnbc.com

    Goldman Sachs is ramping up its bitcoin trading. CNBC’s Hugh Son joins ‘Tech Check’ to discuss his reporting and what it could mean for institutional traders and cryptocurrency.
Comment Options
Goat
Jun 18, 2021 4:19pm
Permalink
I'm neutral on BTC and hunting for signs. At the top of my bull case is the entrance of the investment banks. What can Goldman, MS, and UBS do with Bitcoin? Will they develop the inheritance programs and easy transfers that we've been theorizing since 2012? With all the big players involved, Bitcoin could become quite the utility.

What's the market cap on a project/company that brings all the world's financial institutions together for a promising R&D project? One or two trillion, right?
Reply
g-force
Jun 18, 2021 3:56pm
Permalink
Watch out adding btc to pensions... as soon as a group of retirees lose their savings, crypto will be demonized and head to the same wastepaper basket that houses mbs and cds. When the stock market forces old people back into the work force its just because they didn't diversify enough.
Reply
Goat
Jun 18, 2021 4:10pm
Permalink
Quoting g-force
When the stock market forces old people back into the work force its just because they didn't diversify enough.


That is some funny truth right there.
Reply
Goat
Jun 18, 2021 8:20pm
Permalink
Quoting g-force
For me it boils down to: the potential for innovation is still huge even if somewhat priced in
Great way to put it and I see the same.

That doesn't flash a buy signal for my portfolio though. Innovation moves so slow.
Reply
g-force
Jun 18, 2021 4:49pm
Permalink
Quoting Goat
I'm neutral on BTC and hunting for signs. At the top of my bull case is the entrance of the investment banks. What can Goldman, MS, and UBS do with Bitcoin? Will they develop the inheritance programs and easy transfers that we've been theorizing since 2012? With all the big players involved, Bitcoin could become quite the utility. What's the market cap on a project/company that brings all the world's financial institutions together for a promising R&D project? One or two trillion, right?
I hear you, its tough to take a side right now. I sold a lot in the 50s and am dipping my toe back in for the 30s. At the right price I don't feel guilty buying. Btc is still moving back and forth with the same profile it always has and is yet to be beat.

For me it boils down to: the potential for innovation is still huge even if somewhat priced in, place a few sizable bets on the guys most likely to make things happen. Btc has a massive first-mover and household name advantage so I think they are in the ring by default.
Reply
  • Story Stats