Bitcoin Too Strong for States? – The recent arrival of institutional investors in the Bitcoin and cryptocurrency market has not gone unnoticed. Neither in terms of price increases, nor with regulators around the world. It is even the former CEO of the mega-bank Goldman Sachs who says it!
When Bitcoin gives regulators a cold sweat
Lloyd Blankfein is the former CEO of multinational banking firm Goldman Sachs , which he led from 2006 to 2018. In an interview with CNBC’s Squawk Box show , the businessman was asked about the sassy success of Bitcoin (BTC).
Étant women passif très sceptique of Lloyd Blankfein concernant le roi des cryptomonnaies, on net pas qu’il utilize the conditionnel , but the ADMET tout de même que désormais Bitcoin „Stadium Walking“ .
He goes even a little further by acknowledging that the famous cryptocurrency could give a twist to the various government agencies:
“If I were a regulator, at the moment, I would be hyperventilating in front of the success of this project, and I would arm myself to better cope with it. “
Bitcoin may be a store of value, but …
The former CEO of Goldman Sachs explains that good currency is supposed to be a medium of exchange and a store of value .
Despite the high volatility of BTC prices, he wants to recognize – in part – this last quality of safe haven to the invention of Satoshi Nakamoto:
“It is a store of value, but a store of value which can even see its price move by 10% in one day (…). “
The fact of risking losing your private key , or having it stolen , also seems problematic. But the biggest problem for Lloyd Blankfein is that regulators are, with the growing success of Bitcoin, increasingly annoyed by the pseudo-anonymous nature of transactions on this network. A very thorough regulatory framework thus seems inevitable.
“You don’t know if we give money to the North Koreans, or to Al-Qaida, or even to the Iranian Revolutionary Guards (…) [regulation] is conceivable, but it will undermine that freedom and that lack of transparency that people appreciate in the first place. So this is the whole puzzle that Bitcoin will have to face. „