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Goldman Sachs plans to provide customers with bitcoin futures trading services

Goldman Sachs is the second largest investment bank in the global financial markets after JPMorgan. In the coming weeks, Goldman Sachs will provide its customers with bitcoin futures trading services once bitcoin futures are available on several major exchanges.

According to a source close to the company's Bitcoin Futures program, the short-term trading of bitcoins by Goldman acting on behalf of its clients will be conducted on a case-by-case basis.

Goldman Sachs spokesman Tiffany Galvin (Tiffany Galvin) said:

Given that this is a new product, with reference to our standard exhaustive process, we evaluate the specifics of the Bitcoin futures contract and the risk attributes. 
Goldman Sachs CEO's point of view

Lloyd Blankfein, chairman and CEO of Goldman Sachs since 2006, said "we would accept Bitcoin if it finally worked." Last month, in an interview, Blankfein said he was open to Bitcoin because much of what he sees as "stupid and wrong" assets and technology finally worked.

I'm open to these things (bitcoin and cryptocurrency), because there was something that I thought was stupid and wrong, and now everything works quite well. I prefer to hold an open mind, I understand the financial history, people have only accepted gold for some time.
More importantly, Blankfein stressed that at first most people were reluctant to accept the sudden shift from the gold standard to the French currency. Blankfein explains that if bitcoin is a natural transition from hard currency to digital currency, bitcoin has the potential to become the next world gold and reserve currency.

A $ 5 gold is worth $ 5 because it contains $ 5 worth of gold. Then you can issue notes of the same value as gold held by the Ministry of Finance. One day, when the paper money they issue is no longer supported by gold, there is no guarantee that you can still get the same amount of gold for $ 5. This is the legal currency. I said there was a $ 5 bill for the $ 5 paper and most people did not trust it for a long time. But now they believe it. Until now, you do not trust or dislike bitcoin because it is not legal. On the other hand, if bitcoin works, I can say it is a natural transition from hard to digital currency.

CBOE Bitcoin Futures Coming soon

Bitcoin futures on the Chicago Board Options Exchange (CBOE) will be officially launched on December 10, two more days. Goldman Sachs and Man Group (Man Group) and other large investment banks and hedge funds are planned in the CME and CBOE Futures Exchange after Bitcoin currency investment encrypt launched, these two markets will greatly increase the liquidity of Bitcoin.

Goldman Sachs and its clients will invest bitcoin in mid-December using the CBOE and CME bitcoin futures trading platforms.

Goldman Sachs and JPMorgan's positive stance toward bitcoin as a new type of gold and a steady hedge showed that other large banks and financial institutions will also enter the venue later.