Is Goldman Sachs going to launch a Bitcoin exchange in the upcoming months?
Goldman Sachs is exploring how it could help clients trade bitcoin and other digital currencies, according to Bloomberg...
Wow, this is huge! Bitcoin is even featured on the front page of the Wall Street Journal today.
“In response to client interest in digital currencies, we are exploring how best to serve them in the space,” ~ Goldman Sachs
By announcing they take Bitcoin seriously they possibly have a position in Bitcoin as well. It wouldn't surprise me either. The big banks have to to be at the forefront of financial disruption triggered by the emergence of Bitcoin, rather than positioning themselves on the sidelines.
Read more on Bloomberg.com.
Other news today
- Bitcoin payments gateway BitPay sees a 328% volume growth this year. BitPay merchants are now turning over $100 million a month in Bitcoin payments, according to the company.
- And other crypto news below.
Cryptocurrencies Markets Overview for Tuesday, October 03, 2017
Unfortunately, the crypto markets do not respond very positive on today's news. We are falling back a bit after the surge of the recent days.
24 Hour Change
7 Day Change
Month-to-Date Change
24 Hour Volume
Market Capitalization
Feel free to use and share my charts, but please mention me as the author.
Latest Crypto News - October 03, 2017
Goldman Sachs exploring bitcoin trading operation
Goldman Sachs is considering the launch of a new trading operation focused on bitcoin and other digital currencies, a company official said.
Read more: cnbc.com
Other sources:
- Goldman Sachs to Explore Starting Bitcoin Trading Venture (Bloomberg)
- Report: Goldman Sachs Considering Bitcoin Services for Clients (Coindesk)
- Goldman Sachs Explores a New World: Trading Bitcoin (Wall Street Journal)
First Ever Bitcoin Documentary in China Released at Shape the Future Summit
2017 - Shape the Future is a documentary that charts the course of the world’s first digital currency, Bitcoin. The documentary produced by BitKan is supported by Bitmain, Huobi, Bixin and ViaBTC. It begins the story with how Bitcoin came into being and discusses the mysterious inventor of Bitcoin Satoshi Nakamoto. Just who was this man? Was he even a man or was it a group of men?
Read more: cointelegraph.com
BitPay Volumes Surge 328% As Processor Forecasts $1 bln Annual Turnover
BitPay is “on pace” to process $1 bln per year in Bitcoin payments as its merchants see a combined 328 percent annual volume growth.
Read more: cointelegraph.com
Japan is poised to become the leading bitcoin market
Look for Japan to become the leading bitcoin market. In April, Japan officially recognized bitcoin as legal currency and will regulate it accordingly. That boosted the price globally and boosted bitcoin trading volume on Japanese exchanges. Meanwhile, Japanese internet giant GMO Internet is investing $3 million to launch a bitcoin mining operation next year.
Read more: yahoo.com
Bitcoin could be heading to $6,000 by year-end but brace for volatility, experts say
Bitcoin could rally nearly 40 percent to hit $6,000 before the end of the year but investors should brace for more volatility, according to industry experts.
Read more: cnbc.com
SegWit Adoption Surpasses 7%, Bitcoin Is Scaling at a Rapid Rate
The percentage of Segregated Witness (SegWit)-enabled bitcoin transactions has surpassed the seven percent mark, as SegWit continues to scale the bitcoin network drastically beyond the capability of a 2MB block size increase.
Read more: themerkle.com
Europol Warns Zcash, Monero and Ether Playing Growing Role in Cybercrime
European Union law enforcement agency Europol has for the first time released a cybercrime report examining the growing role of zcash, monero and ether on the darknet.
Read more: coindesk.com
CFTC Investigating Ether Crash on Coinbase Exchange
The U.S. Commodity Futures Trading Commission (CFTC) is reportedly making enquiries into the ether flash crash that occurred earlier this year on Coinbase's GDAX trading platform.
Read more: coindesk.com
This was really big news and I thought it would get a little more play than it did. I thought the market as a whole would get a bump as this was a very important development that could have huge ramifications down the line.
I agree with you re: Goldman's interest in Bitcoin.
If it's real, this is the sort of thing that can be a game changer. It will help keep governments away from trying to shut them down. And it gives them a way to tax profits, which is one of the things they are concerned about. (we all hate taxes, but let's face it, if the gov can't tax it somehow, they may go after it.
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The wall street journal published an article telling Goldman is interested into trading bitcoin, so the exchange could be a way for them. Why not ?
I agree.
There are options on Bitcoin coming out later this year as well.
I think this will really help Bitcoin become main stream which is good for all of us current investors. Time will tell of course, but I'm expecting good things.
@bigsilver I agree, and the hearings that amazon has to accept bitcoin and litecoin, lots of signatures. Hope that comes soon. This type of things will help go mainstream for all crypto. @gold84
@gold84 - yes, if #Amazon starts accepting Bitcoin, that would be a huge validation of legitimacy. The sooner it happens, the better.
that said, I'm not sure I want buy something with Bitcoin... If it's worth $4,300 today and $6,000 next week, that item cost me a lot of money. :)
@bigsilver you are absolutely right. I wouldn't neither. But many new adopters at that stage when amazon starts accepting it, will use it because Bitcoin would cost them the $6,000 if that is the value at that time. The difference is for earlier adopters. @gold84
You are right, but it just a funny thought to be paying with an coin that may be appreciating so quickly.
@bigsilver yes, and that same fact is what will push amazon to start accepting it. @gold84
Thanks for the news! Let's hope GS gets on board! I think many companies will follow GS shortly..
yes, with main stream acceptance fast taking hold.
'Goldman might have also bought some in the 3000-3400 range and is now launching this article on WSJ to pump the price up and immediately dump their position for a quick profit. This is suspicious and it might signal an imminent Bitcoin price crash. Goldman's people are true pirates that navigate the world of finance with impunity. They often collude with their friends in the media and rating agencies to promote pump and dump schemes while the sheeple lose their skin and lifesavings.'
Why don't their clients go to Coinbase or other exchanges to have exposure to bitcoin etc?? Unless "client" means something!
Funny how something once considered a scam is now something very major
Good start. Thanks for updating us. Do you know what market outlook is for steem in the next 2 weeks, sir? Response will be appreciated.
@eurogee
Yeah I read on Bitcoin news that goldman sachs was looking into their own coin, maybe an exchange is what will happen. This would be absolutely huge for the market cap of crypto. What do you think 500 billion market cap by the end of 2018? If crypto gets some mainstream money I think it reaches this easily
Did you hear Jamie Dimon of JP Morgan trashing Bit Coin calling in a fraud a coupl weeks ago? Here's the article incase you missed it. https://www.financemagnates.com/cryptocurrency/news/jpmorgan-ceo-jamie-dimon-trashes-bitcoin-fraud/
I don't know about the big banks getting involved. I see the positive legitimization of an exchange run by Goldman Sachs, but I don't trust them. Do you?
I'm not sure that I trust Goldman Sachs.
very interesting article dear
informative!!! thanks