For the fifth time in the past six days, Bitcoin reached a new all-time high value.
Bitcoin reached $7,449.28 on the Coindesk Bitcoin exchange index at 5:40 a.m. Central time U.S. on November 3, 2017, the fourth consecutive day for a new high value. On the GDAX exchange, operated by Coinbase, the high all-time value of $7,449.99 was reached between the 5 and 6 a.m. hour.
Sentiments on Bitcoin’s present and future viability still vary wildly. In the above Bloomberg video, Lloyd Blankfein, Goldman Sachs Group Inc. chief executive officer, comments on Bitcoin during an interview with Bloomberg’s David Westin at the Goldman Sachs Sustainable Finance Innovation Forum in New York:
I have a level of discomfort with it, as I have a level of discomfort with anything that’s new. But I’ve learned over the years that there’s a lot of things that work out pretty well that I don’t love.
Blankfein went on to relate his initial belief that cell phones would never catch on because they were big and bulky, the batteries lasted only a few minutes, and phone booths were easy to find. He went on to say that he was obviously wrong about cell phones.
His statement, “I have a level of discomfort with it, as I have a level of discomfort with anything that’s new,” reflects human nature. People who understand and possess Bitcoin still represent less than 1 percent of the world’s population. As the value continues to grow, so will the interest and the demand. As the demand grows, simple economics tells you that will drive the value further upward.
Here are some other recent reactions from Twitter:
— CoinDesk (@coindesk) November 3, 2017
The Sweden bitcoin ETN is up to $430m in assets.. that’s bigger than 70% of US ETFs.. pic.twitter.com/BmXVDeoQMy
— Eric Balchunas (@EricBalchunas) November 3, 2017
Didn’t exist in 2006:
— Vala Afshar (@ValaAfshar) November 2, 2017
BitcoinCoaches.com will follow the story throughout the day and post updates as warranted. Check the current value of Bitcoin at any time using the Bitcoin Quote panel on the right side of the page.