Goldman Sachs’ Blankfein Admits His View On Cryptocurrency Is Changing – Says Crypto Is “Happening” Cryptocurrency

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Lloyd Blankfein, a former CEO of Goldman Sachs who is now the company’s senior chairman, says his view on cryptocurrency is changing. “I watch crypto, and it happens,” he added.

Goldman Sachs Executive Lloyd Blankfein Says Crypto “Is Happening”

Lloyd Blankfein, a former CEO of Goldman Sachs who has expressed skepticism about cryptocurrency in the past, said in an interview with CNBC this week that his view of crypto is “evolving.”

Blankfein was Chairman and CEO of Goldman Sachs from 2006 until September 2018 and remained Chairman until December 2018. He is now Senior Chairman of the Goldman Sachs Group.

He was asked if his views on cryptocurrency have changed given the current market situation and traditional banks, including Goldman Sachs, starting to offer crypto services, such as trading and custody.

The Goldman executive responded:

Look, my view of the situation is changing… I can’t predict the future, but I think it’s a great thing to be able to predict the present, like, ‘What’s going on?’ And I look at crypto, and it happens.

“As an intellectual matter, I can’t think differently about this,” Blankfein insisted. However, he clarified: “As a pragmatist and a skeptic not only of the market but a skeptic of my own opinions, I try to come on board and recognize that I don’t know everything. Strange things, things that I find strange, actually happen.

Commenting on the crypto market, the former CEO of Goldman Sachs said, “It lost a lot of value, but at some point, trillions of dollars of value contribute to it, and whole ecosystems grow around it. And, of course, we have the benefits of instant transfers and reduced credit risk and all the benefits of blockchain.

Blankfein concluded:

I may be skeptical, but I’m also pragmatic about it. And so guess what, I would definitely like to have an oar in this water.

In January last year, Blankfein warned against regulators coming after the crypto sector. “If I was a regulator, I’d be kind of hyperventilated by the success of this one right now and arm myself to deal with it,” he said.

What do you think of the words of the former CEO of Goldman Sachs? Let us know in the comments section below.

Kevin Helms

An economics student from Austria, Kevin discovered Bitcoin in 2011 and has been an evangelist ever since. His interests include Bitcoin security, open source systems, network effects, and the intersection between economics and cryptography.

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