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RE: Goldman Sachs To Open Bitcoin Trading Operation
They can't manipulate cryptos, one has to account for these investments and report them as per SEC guidelines. All they can do it invest in a crypto hedge fund that plays in crypto markets. Money moving in and out has to be accounted for at banks and evidence has to checked by auditors. No banks are investing in crypto so far, only futures, if at all. And after volcker rule, trading using proprietary capital is very difficult for banks.
Man o Man are you going to be in for one hell of a surprise very soon.
Ok, i will wait for the surprise and more conspiracy theory.
Ever thought that you have been conditioned to believe small groups and not think out Maude the box. Trust you will be surprised.
They can't manipulate precious metals either right?
They may be manipulating every single market that is relatively illiquid compared to stocks and rates. And they may have taken exposure to bitcoin, although i highly doubt it, but probably only via futures, not actual bitcoins. They have to justify exposure to bitcoin futures to shareholders and regulators. And they have to justify exposure to actual bitcoins. In the absence of regulation, goldman buying 440k bitcoin at 5600 is plain fart and therefore no case of any market manipulation through it. There are plenty of other institutions that can manipulate bitcoin market, not goldman as things stand currently. If the US regulators wont drag them to court or fine them, shareholders will sue them or european regulators will fine them. They are not buying any bitcoin without it being regulated. There is no way to account for that purchase. Its not a fixed asset, its not an intangible asset, it has to be on their balance sheet somewhere. Goldman is a regulated listed financial entity mate!