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The COO of Goldman Sachs Predicts “Explosion” In The Use Of Cryptocurrency

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Goldman Sachs Bitcoin

The Chief Operating Officer of Goldman Sachs, John Waldron, gave an interview to Reuters this week that should have cryptocurrency investors elated. Mr. Waldron confirmed what we have been reporting consistently, namely, that cryptocurrency is rapidly moving toward widespread adoption and that institutional money is pouring into the sector. He confirmed that the financial services giant is seeing rising customer demand to own and invest in bitcoin, by simply saying “Client demand is rising.”

The Goldman COO acknowledged there remains regulatory hurdles that need to be overcome:

“We are regulated on what we can do. We continue to evaluate it … and engage on it.”

“Waldron said Goldman can custody digital assets “but can’t principle” them, and is in talks with regulators and central banks about how banks should be regulated when dealing with digital money.

Mr. Waldron said that his firm credits the pandemic with being responsible for an explosion in online commerce, which “will cause a corresponding ‘explosion’ in the use of digital currency.”