The inflow of investments into the crypto market hits a record, and the ex-head of Goldman Sachs turns against bitcoin
Over the week, the flow of funds to the cryptocurrency market reached $1.3 billion
The inflow of funds into investment products based on cryptocurrencies last week reached a record $1.31 billion, according to the digital asset management company CoinShares.
“We believe investors have been very price conscious this year due to the speed at which prices in bitcoin achieved new highs,” said investment strategist James Butterfill.
CoinShares analysts believe that the new high may be related to the recent drop in the price of BTC. It is likely that investors took advantage of the decline in the exchange rate in order to buy cryptocurrency at a profitable price.
Lloyd Blankfein: BTC prevents authorities from controlling the financial system
According to Lloyd Blankfei, the former CEO of Goldman Sachs, the authorities are obliged to tighten regulation of the cryptocurrency industry due to the rapid growth of this direction. The businessman pointed to the “pseudo-anonymity” of digital assets, which makes bitcoin a convenient tool for financing illegal activities.
“You don’t know whether or not you’re paying the North Koreans or Al Qaeda or the Revolutionary Guard. If I were a regulator, I would be kind of hyperventilating at the success of it at the moment and I’d be arming myself to deal with it, ”Blankfein said.
In his opinion, the duty of regulators is to limit the freedom that digital coins provide. At the same time, Blankfein doubts that after the tightening of control and, as a result, the loss of anonymity, bitcoin will continue to be in great demand.