goldman sachs bitcoin

One of the largest firms on Wall Street may be entering the cryptocurrency market in the not too distant future. Goldman Sachs Group Inc., is widely regarded as one of the largest firms on Wall Street, and the group recently started a trading deal that will deal with cryptocurrency markets such as bitcoin. The bank has the goal of getting this project on the move as soon as June of 2018, if not earlier.

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This move by the large bank makes it the first of the Wall Street giants to enter the cryptocurrency world. Given that the market on digital money is something with extreme amounts of volatility and uncertainty, many of the big firms on Wall Street have yet to get involved, and for good reason. With several big names across the world economy getting involved, it seems like the right time. CME recently announced a new product that will sell futures contracts for bitcoin, something that the market has yet to see from such a large company. The issue stems from the fact that the history of cryptocurrency is plagued with criminality and delegitimization.

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Many firms have yet to enter the market given the regulatory measures that have yet to be in place. On the individual level, a lack of regulation is something that is often positive, but these large companies usually cannot be involved given their federal status. Goldman Sachs is working on putting together a team that would build out the infrastructure for this new sector of their business. One issue they have run into is the idea of where to place their business within the market. The broad nature of the cryptocurrency market means that there are many ways to make money, and this could potentially prove to be an issue for the large firm.


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