Goldman Sachs Latest Critic of Bitcoin

by admin on December 2, 2017

A recent 20% dip in Bitcoins cryptocurrency has Goldman Sachs fearing to get involved with a currency that can lose so much value in less than 24 hours, says The Guardian. If anything, it feels like a “vehicle to commit fraud”.

Goldman Sachs boss, Blankfein, comments that “Bitcoin is not for me”. He is not the only boss of a major bank to articulate fears of the potential of fraud that Bitcoin has. JP Morgan’s CEO, Jamie Dimon also characterized Bitcoin as fraud that would be “fit for use by drug dealers and murderers”.

Disregarding the criticisms of the decline in value of the cryptocurrency, Bitcoin has continued to stay at the top of trading since the beginning of the year, being the biggest gainer of asset classes.

Read the full story here

Related Articles: Commercial Banking Act

Image: Bitcoin Wikipedia

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