BREAKDOWN: Have Fun Staying Rich – Goldman to Offer Bitcoin to Wealthy Clients, Completely Reversing Course
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 31 March 2021
⏱️ 14 minutes
🧾️ Download transcript
Summary
Less than a year after it proclaimed cryptocurrencies are “not an asset class,” Goldman is launching a set of bitcoin and crypto products.
This episode is sponsored by Nexo.io and Casper.
As the old saying goes: “First they ignore you, then they mock you, then they fight you, then you win.”
Ten months ago, Goldman Sachs declared that “cryptocurrencies including bitcoin are not an asset class.” Today, CNBC broke the news Goldman is planning to release a full suite of bitcoin and crypto investment products.
On this episode, NLW breaks down the larger macro context that got us from then to now and explains why, if you’re a wealthy client of Goldman, you might have some big questions to ask.
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Nexo.io lets you borrow against your crypto at 5.9% APR, earn up to 12% on your idle assets, and exchange instantly between 75+ market pairs with the tap of a button. Get started at nexo.io.
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Launching in late-March, Casper is the future-proof blockchain protocol that finally address the blockchain trilemma. Learn more at Casper.Network.
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Transcript
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| 0:49.8 | First they ignore you, then they mock you, then they fight you, and then you win. |
| 0:55.0 | This is what the then you win tastes like. |
| 0:57.8 | And that doesn't mean that we don't still have a lot of mocking and fighting to do. |
| 1:01.7 | But when you have one of the world's best-known financial brands completely, |
| 1:06.1 | and I mean completely, reverse course, in less than a year, you know you're on to something. |
| 1:13.1 | Welcome back to The Breakdown with me, NLW. |
| 1:17.2 | It's a daily podcast on macro, Bitcoin, and the Big Picture Power Shifts remaking our world. |
| 1:23.6 | The Breakdown is sponsored by nexo.io and Casper and produced and distributed by CoinDes. |
| 1:30.6 | What's going on, guys? It is Wednesday, March 31st, and today we are talking about Goldman |
| 1:36.4 | offering Bitcoin to wealthy clients. Now, sometimes as a bitcoiner, you have an obligation to dance on the grave of a vanquished foe. |
| 1:47.6 | And boy, do I have a jig for you today. |
| 1:52.0 | First, however, let's go back in time about 10 months to late May 2020. |
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