Where people were calling bitcoin- fraud, the bank of banks Goldman Sachs has passed a statement that bitcoin can be the globally accepted currency in the coming years. In a research appear released by them it was said that “in comparison to metals like gold, digital currency would have very low or almost negligible return value.
Opinion of top researchers of Goldman Sachs
Zach Pandl and Charles Himmelberg- the 2 top researchers of Goldman Sachs came up with the opinion that in countries not having proper access to already prevailing traditional currencies, bitcoin could prove to be the best alternative.
They even said that if you see the finance of countries with complete dollarization, you will understand that there is already a need for a worldwide common medium of exchange.
Bitcoin & US dollar
What these researchers missed in their research is the effect of it on US Greenbank and how would it be possible without their consent. US Greenbank is the home of US dollar and that most of the foreign exchange reserves worldwide are in US dollar and ultimately bitcoin has to compete with US dollar to reach any point.
Another point is how it would make its way in countries not completely banked.