$105,400.00
4.54%$2,417.94
8.66%$2.16
7.26%$641.27
4.13%$144.62
9.82%$0.999882
0.01%$0.272983
3.47%$0.164088
8.57%$2,411.57
8.47%$0.583054
7.72%$105,252.00
4.62%$38.35
7.75%$2,917.31
8.61%$2.83
15.76%$462.99
2.02%$12.86
10.34%$9.13
1.33%$0.24606
7.51%$18.10
9.58%$0.999753
0.01%$2.91
6.37%$47.99
-0.43%$0.00001161
9.66%$85.03
6.00%$0.151914
13.66%$2,412.55
8.50%$2,585.32
8.61%$0.99918
-0.10%$311.58
4.52%$1.00
-0.05%$3.42
8.42%$4.21
4.52%$105,361.00
4.60%$0.00000994
12.08%$6.81
9.06%$0.539087
6.83%$257.22
13.09%$1.18
0.04%$52.10
4.74%$350.44
14.68%$1.00
0.00%$4.32
10.08%$4.97
9.14%$1.056
0.02%$0.084881
6.17%$2.13
12.27%$175.18
9.86%$16.42
8.16%$0.756715
12.61%$0.998988
-0.09%$27.36
0.16%$0.605127
3.12%$16.72
5.17%$0.073458
14.68%$4.44
-0.03%$9.30
6.49%$4.08
9.76%$0.02151049
11.43%$0.08283
14.61%$0.688464
17.90%$104,908.00
4.36%$3.21
14.50%$0.270024
13.24%$0.18165
5.37%$0.179565
12.10%$0.928301
11.86%$2.26
9.11%$0.30247
13.00%$4.37
5.06%$0.996102
-0.18%$2,408.58
8.32%$1.00
0.03%$98.51
9.23%$1.002
0.16%$11.08
3.22%$0.245138
23.03%$152.94
9.79%$0.210953
11.69%$1.19
8.72%$0.405172
17.40%$0.01715328
7.60%$2,751.52
8.70%$1.22
18.42%$2,526.81
8.43%$1.70
23.90%$1.59
13.27%$0.00001401
14.69%$10.90
12.07%$1.045
13.36%$0.319611
20.59%$1.001
0.04%$0.998665
-0.14%$0.630832
12.74%$0.548499
12.72%$0.058575
4.77%$3.24
17.89%$0.999849
-0.00%$2,580.03
8.78%$2,532.12
8.40%$105,145.00
4.33%$1.11
0.01%$3,368.10
-1.07%$640.89
4.02%$105,265.00
4.62%$0.832855
21.43%$3,346.72
-1.15%$106,483.00
4.88%$2,552.45
9.24%$0.513096
7.61%$0.081555
11.39%$0.581025
8.13%$0.418034
15.85%$161.78
10.02%$2.14
6.65%$188.30
9.84%$0.842327
7.96%$111.54
0.02%$0.00007245
13.61%$2.18
7.99%$2,605.56
8.45%$41.58
9.11%$0.671496
12.17%$0.998872
0.09%$0.01013208
0.72%$0.71129
8.68%$1.09
-0.27%$0.01398986
11.68%$0.256079
10.15%$18.79
10.52%$0.01289592
17.22%$0.00989855
17.39%$0.161713
10.07%$30.98
5.03%$0.234072
9.46%$0.997548
-0.00%$1.98
6.93%$104,635.00
4.59%$0.0000006
7.03%$3.60
10.30%$0.429798
13.54%$0.533936
7.99%$38.29
8.09%$104,917.00
4.48%$2.06
11.59%$0.095592
11.73%$2,413.14
8.46%$2,411.71
8.44%$0.490326
13.03%$0.526702
6.52%$0.331161
9.13%$105,162.00
4.35%$2,578.18
8.60%$1.00
0.04%$2,522.86
8.48%$0.262403
10.90%$0.99989
0.20%$0.01444959
12.58%$0.612308
9.40%$1.37
10.29%$2,412.58
8.51%$0.425923
4.75%$8.06
2.32%$48.31
7.04%$38.28
10.27%$0.061389
0.60%$0.166832
40.72%$0.999894
0.02%$2.36
8.57%$0.04326577
21.07%$1.00
0.04%$1.36
17.53%$0.163652
8.33%$1.091
0.04%$0.998512
0.06%$0.402396
7.62%$0.0000004
2.53%$0.0042837
25.44%$5.57
11.03%$2,410.34
8.49%$1.00
0.02%$1.001
0.11%$13.51
12.19%$0.114757
12.02%$0.318865
14.87%$0.00651437
17.70%$0.0000188
7.90%$0.513127
7.59%$2,562.50
8.24%$0.0042737
22.14%$2.26
10.71%$0.488211
11.57%$0.9713
15.71%$0.00000092
26.06%$1.15
14.56%$0.06962
9.46%$0.356825
5.85%$0.139426
22.19%$0.166952
-1.37%$1.21
7.41%$0.0350301
4.72%$5.27
9.03%$1.43
12.63%$0.342252
5.78%$0.03515446
9.03%$2,660.64
8.43%$105,168.00
4.47%$105,425.00
5.01%$19.70
2.08%$0.01673793
4.27%$0.00321787
15.46%$2,637.71
8.41%$1.00
0.04%$0.0319085
3.18%$0.999471
0.04%$157.50
9.87%$0.999471
0.06%$2,411.98
8.47%$0.00005555
6.06%$0.744376
24.42%$0.999853
0.02%$1.10
14.03%$0.7127
6.51%$0.301738
17.20%$10.06
4.40%$2,409.83
8.62%$0.444459
7.97%$109.50
8.46%$0.0033802
9.20%$0.060906
11.98%$105,251.00
4.55%$18.08
9.76%$0.00000136
3.25%$1.69
-0.64%$1.001
0.24%$0.599451
8.17%$103,458.00
5.79%$0.00508632
12.03%$2,117.96
4.63%$0.181766
5.48%$1.017
0.09%$0.585276
15.09%$6.11
11.58%$0.181761
9.03%$0.00365734
17.32%$100,240.00
1.97%$14.79
9.25%$0.99914
-0.00%$19.76
7.96%Reading
In a new interview with CNBC’s Squawk Box, former Goldman Sachs CEO Lloyd Blankfein said there’s reason to be skeptical about BitcoinBitcoin.
“It could work,” Blankfein told host Andrew Ross Sorkin. “But, really, at the end of the day, currency is supposed to accomplish a couple of things. It’s supposed to be a medium of exchange, and a store of value.”
Blankfein went on to explain why Bitcoin, in his opinion, doesn’t exactly meet those criteria.
"If I were a regulator I would be kind of hyperventilating at the success of it at the moment, and I'd be arming myself to deal with it," says @LloydBlankfein on #bitcoin pic.twitter.com/vrMppPULpL
— Squawk Box (@SquawkCNBC) January 25, 2021
“It’s a store of value that can move 10% in a day; that, if you lose a code, or lose a slip of paper, it’s lost forever; or, if somebody takes it from you, how will you know? So, the store of value element is a little bit tough,” Blankfein said.
The market more or less bears that out: earlier this month, Bitcoin lost about a fifth of its value overnight. It’s a famously volatile investment—last March, the pandemic-induced stock market crash sent it from the high $8000s to the mid $4000s. And the price saw huge jumps late last year, setting a new all-time high above $40,000.
As far as its being a medium of exchange, Blankfein suggested that Bitcoin’s veneer of anonymity poses a problem for regulators looking to curb money laundering and illegal activity: “You don’t know whether you’re paying the North Koreans, or Al-Qaeda, or Revolutionary Guard.”
While it’s true that Bitcoin can be used to finance criminal activity, the system isn’t anonymous: since every transaction is publicly recorded, cash remains a far better option for criminals looking to keep things quiet.
He went on to say that even if Bitcoin continues edging into the mainstream, inevitable regulations may counteract some of the appeal: “This could be workable, but it will undermine the freedom, liberty, and lack of transparency that people like about it in the first place. So that’s the conundrum that Bitcoin will have to deal itself out. If I were a regulator, I would be kind of hyperventilating at the success of it at the moment, and I’d be arming myself to deal with it.”
Bridgewater’s Ray Dalio pointed to a similar tension in an interview with Yahoo Finance last year, saying that governments might even ban Bitcoin if they can’t effectively regulate it.
David Solomon’s Goldman remains ambivalent about Bitcoin. Last year, slides for a company call told customers that Bitcoin is “not an asset class,” though Goldman’s global head of digital assets has since said investments in blockchain tech are still on the table.
Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
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