Goldman Sachs Former CEO Says Crypto Is Happening, Amid the Dip

by in Cryptocurrency News

Lloyd Blankfein about crypto

Lloyd Blankfein, who served as the senior chairman of Goldman Sachs previously, expressed his views on the crypto sector during a recent talk at Squawk Box.

Related: BTC Price Fell Below $34.000 for the First Time Since July

Being skeptical about crypto previously, Blankfein said that his views have been evolving. To the question of what his opinion is for the crypto market in the term of 5-years, the banker said he can't predict what would happen, but at the moment he looks at crypto and sees that it's happening. Blankfein finds that it's a big thing to predict the present too.

With this, he means that the industry has grown essentially last year.

Although the market has lost value recently, with a later fall of prices, the point is that there are large amounts of money in the sector and that blockchain technology and crypto offer a number of benefits like instant transfers and less credit risks.

Currently, the entire crypto market cap stands at over $1.6 T. BTC trades at $36.500. In the last 24 hours, the BTC price increased by around 8%.

The Ethereum price also saw some increase after the fall. Currently, Eth trades at around $2.400, with an increase of 7% in the last 24 hours.