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Coin of Wall Street: Goldman Sachs Plans Bitcoin Trading

What happened

Goldman Sachs Group may become the first blue-chip Wall Street firm to allow its investors trading directly in Bitcoin and other digital currencies.

What does that mean for bitcoin owners

It’s still on early stages and may not proceed. But if it does, we might see a team of traders making markets in bitcoins much as they do Japanese yen or Apple Inc. shares.

Why would Goldman Sachs do that

To be where the clients are. They quote “client interest in digital currencies” and can become the first blue-chip to serve them.

What can we learn from them

  • Go where your clients are – even if it’s cryptoworld
  • Digital currencies may soon enter mass adoption with supporters like that
  • So far, none of the big banks have dealt directly in bitcoin – more room for experiments.
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