Goldman Sachs Backs Bitcoin

sachs bitcoin

Goldman Sachs may have breathed credibility into the digital crypto-currency Bitcoin after it co-lead a $50 million financing round in Circle Internet Financial, a Bitcoin wallet company. Despite widespread exposure, helped in no small part by its integral role in the online drug market SilkRoad, Bitcoin has failed to capture the public imagination. Not to mention the currency’s reputation for wild volatility..

Before Bitcoin’s rabid army of fans get too excited, it’s not the first time that Bitcoin companies have attracted venture capital. Earlier this year DFJ Growth led a $100m investment in Coinbase, another Bitcoin wallet. And we’re still paying for fags with bits of paper…


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Quote of the Day

Dr Alexander Kogan, the app developer who originally harvested the Facebook data, said…

“I think what Cambridge Analytica has tried to sell is magic and made claims this is incredibly accurate and it tells you everything there is to tell about you. But I think the reality is it’s not that. If you sit down and you really work through the statistics and you think what does a correlation of point three means, those claims quickly fall apart. And that’s something any person with a statistical background can go and do.”

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