Bitcoin with a side of crow for Goldman Sachs
went on its price binge last year, enthusiasts were happy that the somewhat unknown world of crypto was finally coming into the light. However, as Bitcoin in particular began to reach record heights, so did the criticism.
The infamous comments by Jamie Dimon dominated headlines, but other big names also had their piece to say, Goldman Sachs being one of them. The CEO of the US-based investment bank, Lloyd Blankfein, previously had this to say:
Another infamous tidbit:
Oh, how the tide has turned! Strategists for the firm now say:
However, the firm still does not refer to cryptos as actual currency:
On the surface, this appears to be just another well-established name changing their mind about cryptocurrencies, but it could mean more. Goldman Sachs has previously been referred to as a controlling force in the global economic sector, which means that their opinion matters to the rest of the financial world.
Some news publications have even referred to a close relationship between the firm and the US government, with past associates of the former currently working for the latter.
has been steadily gaining a reputation as being the chosen medium of exchange for citizens in developing countries. This could be for a range of reasons including unstable political climates, and economies suffering from hyperinflation. It also acts as a circumvention tool for countries currently exposed to financial sanctions.