Goldman Sachs: 'Bitcoin is Not Coming Back'

Written by:
Guest
Published on:
Aug/03/2018

Goldman Sachs remains defiant when it comes to bitcoin having any role in the financial markets.  Its investment strategy group says bitcoin will continue to decline.  This despite a sharp rise in recent days (albeit with another fall heading into Friday).  Also the online gambling sector continues to see record transactions courtesy of bitcoin and other cryptocurrencies

"Our view that cryptocurrencies would not retain value in their current incarnation remains intact and, in fact, has been borne out much sooner than we expected," the Goldman Sachs team lead by chief investment officer Sharmin Mossavar-Rahamani said.

"We expect further declines in the future given our view that these cryptocurrencies do not fulfill any of the three traditional roles of a currency: they are neither a medium of exchange, nor a unit of measurement, nor a store of value.

"Importantly, we continue to believe that such declines will not negatively impact the performance of broader financial assets, because cryptocurrencies represent just 0.3% of world GDP as of mid-2018," the report said. "In fact, we believe that they garner far more traditional media and social media attention than is warranted."

The current price of bitcoin was sitting around $7500 as of 11 am EDT Friday.

Some online gambling sites are reporting that up to 80% of all transactions are via bitcoin heading into the new football season.

- Aaron Goldstein, Gambling911.com

Business/Financial News

Another $6 Billion of Value wiped Out of Bitcoin in a Day

Another $6 Billion of Value wiped Out of Bitcoin in a Day

Cryptocurrencies, which today accounts for upwards of 70% of all online gambling transactions in the North American market, lost approximately $6 billion of its value in a single day Thursday.

What is a PPH Sportsbook?

A PPH sportsbook is short for a pay per head sportsbook and that is a company that provides a platform and website for bookies so they can accept bets on daily sporting events

7 Reasons Why You Should Use Bookie Software to Run Your Sportsbook

Today it’s possible to run a world-class sportsbook even if you’re a one-man-show. You can actually rival most online sportsbooks by using bookie software to run every aspect of your operation.

New Pay Per Head Provider Comes Onto The Scene Just in Time for UFC 229

New Pay Per Head Provider Comes Onto The Scene Just in Time for UFC 229

PayPerHead247.com has entered the profitable Pay Per Head space with plenty of betting action coming down the pike.

MMA White Label Sportsbook - Kentucky

Kentucky bookmakers and agents can utilize the premier MMA white label sportsbook software courtesy of PremierPerHead.com.

Syndicate