Goldman Sachs CEO digital currency

1.

Less than a month after Jamie Dimon, CEO of JPMorgan Chase, failed to beat bitcoin, bitcoin hit a new record. It not only regained the land lost last month, but also broke $5300 today

At JPMorgan's third quarter earnings meeting on Thursday morning local time, Dimon said he would not comment on bitcoin

"I will not classify this (bitcoin) as the most important transaction category, but I will not discuss bitcoin any more." Damon said

bitcoin rose rapidly from less than $1000 at the beginning of 2017 to $4900 at the beginning of September. After that, bitcoin dropped rapidly from US $4900 to US $3500 in the first half of September, and then rebounded. Bitcoin has recovered its lost ground and broken through the US $5800 barrier

Dimon once had a similar but more intense evaluation that the circulation value of bitcoin is limited to a very small market

bitcoin's sharp price fluctuation, on the one hand, has attracted speculation about speculative asset bubbles in the market. On the other hand, it has attracted a lot of attention from investors and banks. p> In early October, some media quoted people familiar with the matter as saying that Goldman Sachs was considering directly carrying out market making transactions of bitcoin and other digital currencies, becoming the first Wall Street giant to prepare to directly trade digital currencies. Lloyd Blankfein, CEO of Goldman Sachs, later tweeted: "bitcoin is still under consideration. There is no conclusion, no support and no rejection. I know that when paper money replaces gold, some people will also be skeptical. "

a spokesman for Goldman Sachs said that it is exploring the best service for customers in the field of digital currency

since June this year, Goldman Sachs has begun to release bitcoin research reports, becoming the first large investment bank on Wall Street to release bitcoin price analysis. In an August report, Goldman Sachs said it has become increasingly difficult for institutional investors to ignore bitcoin and the virtual money market

James Gorman, CEO of Morgan Stanley, said at the end of September that bitcoin was definitely not just a fad“ Anonymous money is a very interesting concept, it provides privacy protection for people, it also has meaning for the central banking system. "

Abigail Johnson, CEO of fidelity, an asset management company that manages $2.3 trillion, has joined the ranks of bitcoin gold miners with practical actions. When Johnson attended the digital currency conference in September, she delivered a long speech, saying that her company not only studied regional chain technology, but also injected venture capital into many companies engaged in bitcoin related business

fidelity owns a bitcoin mining company through investment. Johnson himself has been engaged in bitcoin mining business for a long time, and he has a considerable amount of bitcoin

2. The idea behind Goldman's patent is to build a system that uses digital currency to settle securities transactions. Initially, the patent was applied in December 2015. The content of the patent includes using setlcoin to exchange for digital shares of enterprises such as Google or Microsoft, and using the currency to exchange for other encrypted electronic currencies

3.

According to Steve strongin, global head of investment research at Goldman Sachs Group Inc., the market value of cryptocurrency has evaporated nearly $500 billion in the past month, and the situation is likely to get worse

In a report dated February 5, strongin wrote that most digital currencies are unlikely to exist in their current form and investors should be prepared to lose all their value because they are replaced by a small number of future competitors

although he did not give a time frame for the situation, he said that the recent price fluctuations indicate bubbles, and the trend of different currencies to be consistent is unreasonable. p>

on February 6, bitcoin fell below US $6000, reaching the lowest of US $5920, the lowest since mid November

strongin pointed out that the introction of regulated bitcoin futures did not solve these concerns. In addition, he ignored the so-called first generation advantage, saying that few people survived the Internet bubble in the late 90s. p>

he said: "is today's cryptocurrency Amazon or Google, or will it be like many search engines that no longer exist today?" Strongin predicts that most cryptocurrencies may never return to their previous peak levels

strongin is more optimistic about the blockchain technology of digital currency, saying that it can help improve financial books

but even so, he warned that the current technology does not provide the speed needed for market transactions

Robert Shiller, Nobel Laureate in economics, warned on January 23 that bitcoin "may completely collapse and be forgotten. I think that is a very possible result."

According to Schiller, that reminds him of "tulip mania in the Netherlands in the 1640's" and "bitcoin is worthless unless people can reach some consensus on its value."

4. Now it is: Lloyd Blankfein, who took over as chairman and CEO of Goldman Sachs two years ago, is regarded as the most dazzling person on Wall Street today. In 2007, under the influence of the subprime mortgage crisis, financial giants such as Citigroup, Morgan and Merrill Lynch lost money one after another, and the CEOs of Citigroup and Merrill Lynch even left their posts in dismay. However, Blankfein and Goldman Sachs, led by him, enjoyed a kind of steadfast calm. They not only successfully avoided the impact of the subprime mortgage crisis, but also created remarkable achievements, Blankfein's annual income is up to 67.9 million U.S. dollars, a record salary on Wall Street. Blankfein's first job after graating from Harvard was as a tax lawyer. After three years, he moved to J. Aron, a little-known commodity trading company, as a salesman. From an ordinary salesman to a gold medal salesman, Blankfein saw the rapid expansion of his life width in a short time. Found a breakthrough, which makes the young Blankfein more energetic. However, he did not expect that J. Aron would soon be acquired by Goldman Sachs because the overall decline could not be reversed. In this way, Blankfein and J. Aron became part of Goldman Sachs. Under the system of Goldman Sachs, J. Aron's business needs to be adjusted and restored, and Blankfein plays an irreplaceable role in this process. The company's business expanded to coffee, metal trade, crude oil, foreign exchange trading and other fields. By the early 1990s, J. Aron's profits had accounted for one-third or more of the total profits of Goldman Sachs. Blackfein was appointed co head of commodities at Goldman Sachs in 1994 and transferred to London in 1997 as co head of fixed income, ring which he played a role in the bank's response to the 1998 financial crisis. In the following years, he quietly overtook the more high-profile competitors in the investment banking business, and easily won the top position of the investment bank after Paulson left Goldman Sachs and became US Treasury secretary. The success in the subprime crisis has enhanced Blankfein's position on Wall Street. The words of Goldman Sachs analysts will have a great impact on the market

adopt

5. Founder Marcos Goldman, the first CEO of the company
in 1929, the successor of the company was Sidney Weinberg and Whitehead, and now the CEO is Lloyd Blankfein, Lloyd Blankfein, the chief executive of Goldman Sachs Group, a famous investment bank in the United States, received a total dividend of $67.9 million this year, setting a new wall street CEO salary record.)

6. In 1976, after the death of Levin, the senior partner of Goldman Sachs, the management committee decided that Weinberg and Whitehead would be the heirs of the instry of Goldman Sachs. Buffett, one of the shareholders of Goldman Sachs, owns 5 billion original shares