• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN
Bitcoinist.com
No Result
View All Result
goldman sachs arrests bitcoin case strong
Nexo

Ex-Goldman Chief Says We’ll Have a Global Cryptocurrency, But Not Bitcoin

Georgi Georgiev by Georgi Georgiev
4 years ago
in News, Altcoin News, Bitcoin, Blockchain, News teaser
0
Advertisement

Former president of Goldman Sachs, Gary Cohn, said on Tuesday that he believes the world will have a global currency. However, he doesn’t seem to believe that the latter will be bitcoin.’


‘Not a big believer in bitcoin’

In an interview for CNBC on Tuesday, Gary Cohn said that he believes there will be a global cryptocurrency. He also shared that he’s not a Bitcoin believer but he does favor its underlying technology.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

He said:

I’m not a big believer in bitcoin. I am a believer in blockchain technology. […] I do think we will have a global cryptocurrency at some point where the world understands it and it’s not based on mining costs or cost of electricity or things like that.

‘It Will Probably Have Some Blockchain Technology’

Explaining his vision for the future global cryptocurrency, Cohn adds profound arguments of the kind:

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

It will be a more easily understood cryptocurrency […] It will probably have some blockchain technology behind it, but it will be much more easily understood how it’s created, how it moves and how people can use it.

Is Bitcoin that complex, though? Bitcoin successfully eliminates the need for trusted intermediaries–like Goldman Sachs–and makes long-distance transfers cheaper and more secure.

Of course, it has run into a lot of issues along the way. Bitcoin mining truly is very energy-intensive, it has problems with handling high volumes of transactions and it has become slower as such. It’s also true that there are currently existing alternatives which perform better in certain aspects.

However, ignoring the facts that Bitcoin is the first of its kind and that it has been field tested for almost a decade, proving its usability and performance capabilities in the process, is just inappropriate. What is more, Cohn’s old firm seems to have quite a lot of faith in Bitcoin itself.

Goldman Sachs Recognizing Bitcoin’s Impact

Earlier this month, Rana Yared, an executive at Cohn’s ex-firm, said that Bitcoin “is not a fraud”. What is more, she also seems to have revealed the bank’s intentions to offer Bitcoin trading. In a definitive statement, she noted:

It resonates with us when a client says, ‘I want to hold Bitcoin or Bitcoin futures because I think it is an alternate store of value.

Furthermore, responding to significant client interest, the bank has already hired crypto trader who will help the company expand into the markets for digital assets. The news came as no surprise, though, as the minimum trading sizes for Bitcoin, as well as other cryptocurrencies, had doubled up.

It’s obvious that Cohn’s ex-employer is deviating from the position of the former president, to which he responded briefly:

They should do what they think’s in the best interests of their shareholders.

Do you think Bitcoin has what it takes to become a global cryptocurrency? Please let us know in the comments below!


Images courtesy of Shutterstock

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Georgi Georgiev

Georgi Georgiev

Related Posts

Oslo Freedom Forum, Lyn Alden screenshot

3 Lessons From The Oslo Freedom Forum: BTC Is Different – Neigut, Alden, Feinstein

7 hours ago
Bitcoin

Bitcoin Funding Rate Turns Deep Red, Short Squeeze Soon?

13 hours ago
Legal Experts Reveal Regulatory Uncertainty Around Crypto Could Spike Lawsuits

Legal Experts Reveal Regulatory Uncertainty Around Crypto Could Spike Lawsuits

20 hours ago
El Salvador

El Salvador, Unfazed By The Bear Market, Buys 80 Bitcoin – Will Others Do The Same?

2 days ago
Cryptoqueen

‘Cryptoqueen’ Has A $100,000 Bounty On Her Head Offered By The FBI

2 days ago
Bitcoin Trading Volume Sinks Down Almost 60% In 9 Days

Bitcoin Trading Volume Sinks Down Almost 60% In 9 Days

3 days ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2022 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN

© 2021 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.