Money seems to give strength to its owners, and this also applies to digital money. The Wall Street Journal has reported that
Goldman Sachs, a major banking giant, is considering allowing its investors to trade directly in the digital currency.
Goldman will be the first Wall Street company to allow investors access to the rapidly growing digital currency market.
While other companies have launched platforms such as the GBTC, Goldman has opened up an entirely new market for
investors.
According to a spokesman for the company:
"In response to customer interest in digital currencies, we are exploring how best to serve them in this area."
But will regulation increase on digital currencies?
While the news has brought swift legitimacy to the digital world, it will certainly open the door to increased scrutiny by
government regulators on Bitcoin and other encrypted assets. The Federal Reserve has already indicated that it is studying
digital currencies in more depth and the Securities and Exchange Commission has set up regulations on initial currency
support operations (ICOs).
Need for volatility
Goldman has experienced a significant drop in revenue (21 percent since last year) even in this year's stock market rally, and
the problem appears to be about volatility.
As a result, the company has not been able to take advantage of buying and selling in the stock market and may seek a new
source of volatility to allow investors to profit. According to the Wall Street Journal:
"Goldman, formerly known as the Wall Street trader, is now struggling more than its peers. Revenue in the fixed income
segment fell by 21 percent from last year to June, driven by weak performance in commodities and currencies."
Whether or not the increased reliance of mainstream investors is good for the Bitcoin currency, we will wait to see what
happens. However, this interest raises doubts about previous provisions by other bank leaders such as Jimmy Dimon.
