Lloyd Blankfein, the former CEO of banking giant Goldman Sachs, expressed his optimism about crypto in his latest interview with CNBC.
Blankfein says he mixes skepticism and pragmatism when it comes to cryptocurrencies, claiming that he wants to stay rational:
And so guess what? I definitely want a paddle in that water.
The 67-year-old investment banker believes that cryptocurrencies may be too big to fail even though the market is correcting as they have formed a large ecosystem.
He said that crypto is going as it is now, but he does not predict the future of the industry:
It lost a lot of value, but at one point it was worth trillions of dollars contributing to it and the entire ecosystem growing around it.
Earlier today, the Bitcoin price surged to $32,950, its lowest level since July 23, 2021. The leading cryptocurrency is now on track to end its third consecutive month in the red, down 45 % since the beginning of December and more than 50%. from a record high of $69,000 set in early November. The market capitalization of all cryptocurrencies has now dropped to $1.5 billion.
Last January, Blankfein said that regulators should “increase ventilation” ahead of Bitcoin’s success.
In October, he said that he was “impressed” by how resilient the cryptocurrency really is.
Back in 2018, Blankfein said that it would be “arrogant” to get rid of Bitcoin entirely after the 2017 crypto bubble popped.
As reported by U.Today, Goldman Sachs published a report earlier this January which predicted that the Bitcoin price could eventually hit $100,000 if it approaches 20% of the “store of value” market. of gold.
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