The former chairman and CEO of investment bank Goldman Sachs wonders why the cryptocurrency market is not growing amid the “bloat” of the US dollar and the tense political situation.
This question Lloyd Blankfein (Lloyd Blankfein) asked to your Twitter followers. He believes that the rate of bitcoin and other cryptocurrencies should jump up. This should be facilitated by US government sanctions, due to which many cryptocurrency platforms can, under certain circumstances, freeze the accounts of Russian clients and block their funds.
Blankfein also mentioned the situation with the Canadian truckers of the Freedom Convoy. Earlier, Canadian police demanded that exchanges freeze protesters’ cryptocurrency wallets. Unlike crypto assets held on exchanges and accounts of financial institutions that can be blocked on trading floors, this cannot happen with decentralized cryptocurrencies. And yet, the rapid growth of cryptocurrencies is not observed, says Blankfein.
Some users agreed that the price of bitcoin should have risen a lot, while others believe that it has already increased significantly compared to other assets. Still others are sure that this year the “wave of adoption” of bitcoin will be much more extensive than in 2020, when Tudor BVI hedge fund manager Pol Tudor Jones began buying it.
Bitcoin enthusiast Tuur Demeester noted that in 72 months, Bitcoin has grown by 10,000%, and its compound annual return was 116%. Therefore, the further growth of bitcoin is only a matter of time. However, there were also cryptocurrency skeptics. In the comments to Blankfein’s tweet, they wrote that cryptocurrencies are on the verge of destruction.
Regulators believe that crypto assets remain the only salvation for Russian oligarchs, who can use them to evade sanctions and launder money. However, Brian Armstrong, the CEO of cryptocurrency exchange Coinbase, said earlier that this is unlikely, since attempts to conduct an international transaction in cryptocurrencies can be tracked.
Source: Bits
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