Goldman Sachs CEO Responds to Bitcoin Trading Desk Rumors

Goldman Sachs CEO Lloyd Blankfein has finally shut down rumors dating back to 2016 that suggested his bank was planning to launch a Bitcoin transaction desk. Speaking recently at the World Economic Forum in Davos Switzerland, Blankfein said such rumors are false.

In October 2016, rumors started circulating that the bank would begin dealing in the Cryptocurrency and the rumors heightened last December when there were claims that Goldman Sachs will have its Bitcoin desk up and running in June this year.

The reports went on to suggest that Goldman Sachs was in the final preparatory stage for the launch as it was already said to be testing the safety measures it had put in place as a forerunner to its Bitcoin operations.

The rumors were however put to rest with Lloyd Blankfein’s statements at the 2018 World Economic Forum revealing that the firm had no such plans.

Blankfein did say that his firm was going to make some possibilities for their clients to use Bitcoin in the future.

According to Jim Cramer, host of ‘Mad Money’ Blankfein’s statement does not completely rule out Bitcoin. He went on to add that investors should try to really understand Blankfein‘s statement.

Cramer went on to explain that it is crucial to analyze Lloyd’s statement that “for customers who want to be involved with Bitcoin we will do business with them on some level.”

In the past, Lloyd Blankfein has been asked several questions concerning Bitcoin and quite recently such questions have increased as the Bitcoin value escalates. Blankfein had expressed his discomfort about the Cryptocurrency as its prices are not stable. Speaking in an interview with Kayla Tausche, Blankfein said that Bitcoin prices can escalate at any time and he is nervous about it.

But apparently, Blankfein’s statement in Davos proves that Goldman Sachs is likely to invest in Cryptocurrency technology in the future.