World-renowned banking company Goldman Sachs made a recent announcement about its upcoming CEO David Solomon, replacing Lloyd C. Blankfein who served his position from 2006 until now.
Apparently, this decision came through with an intention to head the company’s investment and development sector towards the decentralized driven environment. Although the Blankfein was a brilliant mind who led the company during the recession of the late 2000’s, he was skeptic towards adopting the cryptocurrency technology.
If we look through initial comments from Blankfein, he made the following statements at the end of 2017,
“If you are still thinking about bitcoin, people before were also insecure about replacing gold with paper money”
But with passing months, the comments from him grew aggressive,
“An asset whose value changes by 20% overnight can not be considered a currency. It is more of a vehicle to perpetuate fraud”
Interestingly, the company doesn’t have any investments in bitcoin but has made millions of investments as well as acquired cryptocurrency exchange ‘Poloniex’.
Solomon is of opinion that ‘ it is necessary that the bank must evolve and adapt to the environment’ and with this culture, the company is hoping to form the trading desk.
“We are opening the way to our future with respect to bitcoin. We have been talking about some issues, but managers are being very cautious. We are listening to our clients to understand and explore other more modern alternatives.”
Above statements may seem like a surprise to few of investors and will keep you posted about updates with ever-changing market space.
What do you think of this move by Goldman Sachs? Share your thoughts in the comments section below.
