Wall Street has inadvertently assisted the recent surge in Bitcoin value, according to Bloomberg News reporter Edward Robinson.
“It’s with every announcement that Wall Street is thinking of embracing Bitcoin as a new asset class that we begin to see this surge,” he said in the video interview above.
Robinson was also asked about the recent reports that Goldman Sachs is considering a new division for Bitcoin and cryptocurrency investment management.
“I think Goldman, like many investment banks in both Europe and the United States, is trying to get their heads around, is this a new asset class?” Robinson said. “Can we do something with this to present it to our private banking clients, our wealth management clients? Is there a way to mainstream this asset class for our clients, because I think clients are knocking on the door because they’re looking at charts (showing impressive Bitcoin gains) and saying, ‘How do I get in?'”
Robinson was asked about the seemingly increasing momentum toward government regulation of Bitcoin and cryptocurrencies.
“Can the regulators who are playing whack-a-mole with ICOs (Initial Coin Offerings), can they actually rein in — let’s call it a security — can they actually rein something in that is, by its nature, decentralized?” Robinson said. “With Bitcoin, there is no central hub. There is nothing to shut down. There’s no one to haul before Congress. There’s no one to fine.
“I mean, it’s a decentralized computer program, and so how regulators will try to check that is totally fresh territory,” he said.