Big New Player in Bitcoin?

Big bank Goldman Sachs - a long time investment juggernaut - is considering whether to allow their investors to trade directly in Bitcoin. They would be the first bank to do so and the possibility comes in response to their client's interest in the digital currency.

What might this mean for Bitcoin, not to mention other cryptocurrencies, should this move occur?

I would anticipate 2 eventualities.

First, it will speed up the process of federal regulation in the US. The government has already placed numerous regulations on the industry, crippling some of the anonymity that was one of the main allures to the alternate currency. This may scare off a sect of investors and leave others, such as Libertarians, who banked on that privacy. I would expect, however, that new ways to ensure transaction anonymity would be developed, in the vein of BitPetite's Tumbler.

Second, an influx of new investors and interest may swell as people previously in the dark about cryptocurrency (or distrustful of it) start to become believers. The impact could be wide-ranging as even more investors will add stability to the currency and having the backing of a large, well-known bank could even compel more businesses to begin using Bitcoin, which would have a massive impact on it's ability to last through time.

What do you guys think? Should this move happen, do you think it will help Bitcoin reach another milestone, or do you think the regulations that are sure to follow simply aren't worth it.

Source: http://www.investopedia.com/news/goldman-sachs-considering-bitcoin-trading/

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