The World's Global Cryptocurrency Won't Be Bitcoin Claims Ex-Goldman President Gary Cohn

Written by:
Guest
Published on:
May/08/2018

The former President of Goldman Sachs, Gary Cohn, says that, while the world will some day have a global currency, it won't be bitcoin.

"I'm not a big believer in bitcoin. I am a believer in blockchain technology," former Goldman Sachs President Gary Cohn told CNBC's Bob Pisani in a "Squawk on the Street" interview.

"I do think we will have a global cryptocurrency at some point where the world understands it and it's not based on mining costs or cost of electricity or things like that," Cohn said.

He expects the digital coin of the future will be simpler than bitcoin. "It will be a more easily understood cryptocurrency," Cohn said.

Berkshire Hathaway CEO Warren Buffett, Vice Chairman Charlie Munger and Microsoft Co-Founder Bill Gates also spoke to CNBC's Becky Quick about bitcoin and cryptocurrencies.

Munger calls bitcoin "worthless artificial gold".

- Aaron Goldstein, Gambling911.com

Business/Financial News

Pay Per Heads Let You Move Your Own Betting Lines

“Full-service” is often times an overused term in business. While it is easy to find companies that make a habit of over-promising and under-delivering on the goods or services they sell, it is the rare company that does the exact opposite.

Bitcoin Surges Above $106,000 on Strategic Reserve Hopes

Bitcoin surged to a record high above $106,000 in early Asian trade on Monday, boosted by comments from President-elect Donald Trump that suggested he plans to create a U.S. bitcoin strategic reserve similar to its strategic oil reserve.

Syndicate

Subscribe to Syndicate
More