Ex-Goldman CEO Blankfein Says Governments Would Likely Try to Shut Down Bitcoin if It Becomes Too Successful

Blankfein misrepresented bitcoin’s traceability and falsely claimed users are blind to their counter-parties.

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Jan 26, 2021 at 8:21 p.m. UTCUpdated Jan 26, 2021 at 8:29 p.m. UTC

Ex-Goldman CEO Blankfein Says Governments Would Likely Try to Shut Down Bitcoin If It Becomes Too Successful

Former Goldman Sachs CEO Lloyd Blankfein pooh-poohed bitcoin’s “store of value” and “medium of exchange” propositions on CNBC Monday, stressing that if the cryptocurrency ever grew to a substantial size the regulators would likely move to shut it down.

“If I were a regulator, I’d be, you know, I would be kind of hyperventilating at the success of [bitcoin] at the moment and I’d be arming myself to deal with it,” Blankfein said.
The finance executive asserted that bitcoin users have no way of knowing if enemy states like North Korea and Iran are counter-parties to their transactions. He then seemingly implied there’s no way to monitor bitcoin transactions, ignoring entirely the cryptocurrency’s inherent traceability.
Bitcoin’s success at weathering the regulator’s impending storm could serve to undermine its most appealing attributes, Blankfein said.

Ex-Goldman CEO Blankfein Says Governments Would Likely Try to Shut Down Bitcoin If It Becomes Too Successful

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