
Lots of big companies that deal with money are starting to like Bitcoin and other kinds of digital money more and more. But Goldman Sachs, a really big and important bank, isn’t sure if it’s a good idea yet. Sharmin Mossavar-Rahmani, who helps make big decisions about where the bank should put its money, talked about this recently. She said, “We don’t think putting money in digital money is a smart move. We’re not big fans.” This shows that not all banks think digital money will be important in the future.
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- Goldman Sachs isn’t as excited about Bitcoin as other big money companies.
- Not many of Goldman Sachs’ customers want to put their money in Bitcoin.
- While Goldman Sachs waits, other big banks like J.P. Morgan Chase and Citigroup are trying new things with Bitcoin and blockchain.
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Goldman Sachs Still Unsure About Bitcoin and Other Digital Money
Even though other companies like BlackRock and Fidelity are getting more into Bitcoin because their customers are interested, Goldman Sachs says its customers aren’t that keen. Mossavar-Rahmani is also not sure about digital money because it’s hard to figure out what it’s really worth. Plus, she noticed that even though people say digital money is for everyone, only a few people end up making all the decisions.
But, other big banks are starting to experiment with digital money and blockchain, which is a technology that keeps track of all transactions. For example, J.P. Morgan Chase began a project in 2020 that now has over 100 people working on it. Citigroup is also looking into making investments digital in a new way called tokenizing.
So, while Goldman Sachs is taking its time to decide about digital money, other banks are moving forward and might find interesting ways to use it. The debate about whether digital money is a good or bad thing is still going on, and different banks think different things.
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