Former Goldman Sachs CEO Isn’t Deterred by Cryptocurrency Selling

Alex Dovbnya

Former Goldman Sachs Boss Lloyd Blankfein Believes Crypto Is Still Happening Despite Huge Price Drop

Lloyd Blankfein, former CEO of banking giant Goldman Sachs, expressed optimism about cryptocurrencies during his latest interview with CNBC.

Blankfein says he combines skepticism and pragmatism when it comes to cryptocurrencies, claiming he wants to stay rational:

And what do you think? I sure would like to have an oar in that water.

The 67-year-old investment banker believes that cryptocurrencies may already be too big to fail, despite the ongoing market correction, as they have already formed a huge ecosystem.

He states that crypto is up and running as of now, but he has refrained from predicting the future of the industry:

It’s lost a lot of value, but at a point where it’s adding trillions of dollars in value and the whole ecosystem around it is growing.

Earlier today, Bitcoin’s price rose to $32,950, its lowest level since July 23, 2021. The flagship cryptocurrency is now on track to close its third straight month in the red, losing 45% since early December and more than 50% of the record $69,000 amount reached in early November. The market cap of all cryptocurrencies has now shrunk to $1.5 billion.

Last January, Blankfein said regulators should “hyperventilate” Bitcoin’s success.

In October, he said he was “impressed” by how resilient cryptocurrencies really are.

In 2018, Blankfein said it would be “arrogant” to reject Bitcoin completely after the 2017 cryptocurrency bubble popped.

As reported by U.Today, Goldman Sachs released a report earlier this January, predicting that Bitcoin’s price could eventually reach $100,000 if it hit 20% of the gold market.

Leave a Reply

Your email address will not be published.