Fun

Former Goldman Sachs CEO: If I Were a Regulator, I’d Be Hyperventilating at the Success of Bitcoin

News Feed - 2021-01-27 04:01:52

Former Goldman Sachs CEO: If I Were a Regulator, I"d Be Hyperventilating at the Success of Bitcoin


Former Goldman Sachs CEO Lloyd Blankfein has offered his view on the future of bitcoin. He said if he were a regulator, he would be “hyperventilating” at the success of bitcoin right now and he would be arming himself to deal with it. Lloyd Blankfein Shares His View on the Future of Bitcoin


Former Goldman Sachs CEO Lloyd Blankfein discussed bitcoin on CNBC Monday. He was asked about how he sees the future of bitcoin and other cryptocurrencies considering that BTC appears to be going mainstream as big firms are now getting involved.


“It could work,” Blankfein admitted. He then explained that “at the end of the day, currency is supposed to accomplish a couple of things. It’s supposed to be a medium of exchange and a store of value.”


He described bitcoin as “a store of value that can move 10% in a day, that if you lose the code or you lose the slip of paper, it’s lost forever, or if somebody takes it from you, how will you know. So the store of value element is a little bit tough.” As for the prospect of bitcoin being a medium of exchange, he asserted: “here’s a problem, you don’t know whether or not you’re paying the North Koreans or Al Qaeda or the Revolutionary Guard.”


Nonetheless, he said: “At the end of the day, if it ever got big enough to be substantial and a real medium of exchange, how could the regulators so focused as they are on anti-money laundering” not step in and do something about it. He believes that there are good reasons for monitoring who is getting paid in the financial system. “Going back to 9/11, we found out that following the money is the way you can anticipate and maybe prevent certain crimes and of course everybody talks about the illicit use of bitcoin,” the former Goldman Sachs CEO opined.



In conclusion, Blankfein reiterated that “like a lot of things, this could be workable but it will undermine the freedom and liberty and kind of lack of transparency that people like about it in the first place so that’s the conundrum that bitcoin will have to deal itself out.” The ex-Goldman Sachs CEO elaborated: If I were a regulator, I would be kind of hyperventilating at the success of it at the moment and I’d be arming myself to deal with it.


What do you think about Lloyd Blankfein’s view on bitcoin? Let us know in the comments section below. Indian Central Bank Sees Cryptocurrencies Gaining Popularity, Exploring Digital Rupee REGULATION | 13 hours ago Russia Prohibits Government Officials From Owning Crypto, Must Dump Holdings by April REGULATION | 21 hours ago Tags in this story goldman sachs bitcoin, goldman sachs btc, Lloyd Blankfein, Lloyd Blankfein bitcoin, Lloyd Blankfein btc, Lloyd Blankfein crypto, Lloyd Blankfein cryptocurrency


Image Credits: Shutterstock, Pixabay, Wiki Commons Spot-markets for Bitcoin, Bitcoin Cash, Ripple, Litecoin and more. Start your trading here. Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments

News Feed

William Suberg11 hours agoBitcoin loses $29K as traders flag key BTC price levels to watch nextBitcoin traders are particularly interested in the short-term holder cost basis as a potential BTC price support level.4793 T
Crypto Miners Account for Over 2% of Electricity Consumption in Russia, Estimate Suggests
Crypto Miners Account for Over 2% of Electricity Consumption in Russia, Estimate Suggests The share of crypto miners in Russia’s power consumption structure already exceeds
Elisha Owusu Akyaw7 hours agoHashing It Out: MobileCoin CEO says crypto must make space for more womenSara Drakeley says crypto has a reputation for being a ”bro space” and urges the industry to make provisions that
Tom Mitchelhill6 hours agoCrypto exchange Kraken ‘disappointed’ over regulator proceedings in AustraliaThe regulator alleged that Bit Trade, the provider for Kraken in Australia, did not make a target market determin
CEO of defunct yield protocol says user deposits weren’t 'principal protected'
Zhiyuan Sun8 hours agoCEO of defunct yield protocol says user deposits weren’t "principal protected"The South Korean platform Delio collapsed last year due to counterparty exposure to Haru Invest, another South Korean
Marcel Deer2 hours agoHow to build a DApp on EthereumTo build an Ethereum DApp, utilize development tools, create secure smart contracts, design a user-friendly front-end and rigorously test it before deploying it.549 To
Future Of Bitcoin: Michael Saylor Envisions Market Cap Climbing To $200 Trillion
Este artículo también está disponible en español. In a recent interviewwith CNBC, Michael Saylor, co-founder of Strategy, reiterated his bullish outlook on Bitcoin (BTC),
Bank of Spain to Launch Experimental Wholesale CBDC Digital Token Program
Bank of Spain to Launch Experimental Wholesale CBDC Digital Token Program The Bank of Spain is seeking the collaboration of organizations interested in participating in an experime
Rich Dad Poor Dad’s Robert Kiyosaki Warns Inflation May Lead to Greater Depression
Rich Dad Poor Dad"s Robert Kiyosaki Warns Inflation May Lead to Greater Depression The famous author of the best-selling book Rich Dad Poor Dad, Robert Kiyosaki, has warned that th
New Crypto and Blockchain Association Launches in Iran
New Crypto and Blockchain Association Launches in Iran A recently established crypto industry association in Iran has commenced activities under the country’s chamber of com
Bitfarms Adds 18 MW of Capacity to ‘The Bunker’ — Miner’s Daily Production Taps 16.8 BTC per Day
Bitfarms Adds 18 MW of Capacity to "The Bunker" — Miner"s Daily Production Taps 16.8 BTC per Day On July 28, the bitcoin mining company Bitfarms announced the completion of the s
Why Meta Penguin Island Should Be Your Favorite Place to Look for NFTs This Winter
Why Meta Penguin Island Should Be Your Favorite Place to Look for NFTs This Winter press release PRESS RELEASE.Not only are the financial markets experiencing a revolution due to bl