Goldman Sachs Stock Could Soar on Bitcoin-Like Patent
There are few certainties in this world, but one of them is that The Goldman Sachs Group, Inc. (NYSE:GS) will always be one step ahead of the pack. That is an unflinching truth that will keep GS stock atop the financial pyramid, especially now that the company is patenting its own version of Bitcoin.
Goldman Sachs filed a patent application for its own cryptocurrency settlement system, meaning it intends to challenge Bitcoin for digital dominance. I’ve been known to be a little pessimistic about Bitcoin (because it will never work) and cryptocurrencies in general; however, this is a little different.
If any one entity could steer global payments toward a cryptocurrency like Bitcoin, it would be Goldman Sachs. The company has enormous influence in both financial and political spheres, which would lend credibility to the currency.
Goldman’s version of Bitcoin is called “SETLcoin.” It is based on the same blockchain system that provides an instantaneous transfer of funds between electronic accounts. From my vantage, this could spell enormous returns for Goldman Sachs stock. (Source: “Goldman Sachs files patent for virtual settlement currency,” The Financial