Goldman Sachs will offer bitcoin backed loan services

[Lens1000]

The it was made known that the foremost American banking giant Goldman Sachs have started a loan facilities that is backed by bitcoin. The foremost American financial giants with over 2.5 trillion dollars worth of assets under its management made the pronouncement to offer loan facilities which the borrower would present collateral in bitcoin.

This is the first-ever cryptocurrency backed loan that we have seen in the world. This is another use of the cryptocurrency in the financial system and development around cryptocurrencies is gaining momentum everyday and that is why we need to catch up with the fast growing technology that we have been seeing in the crypto world.

This is the major reason why we just need to invest for our future by investing in the future of the promising cryptocurrency known as the bitcoin. It is very interesting to know that bitcoin is the foremost cryptocurrency and the most promising cryptocurrency in the crypto market following its wide-scale acceptance by countries, institutions and individual whales. the critics has no other option other than to join the moving train by investing in cryptocurrency and we have another country that have accepted cryptocurrency I.e bitcoin as it legal tender.

 

[Flow-er]

I have not heard of this type of services before but it is very obvious that it is the first of its kind and it will help so many people that wants to obtain loan and could use bitcoin as a collateral . this is a very good move for the company and it is one of the ways at which the company could diversify its bitcoin portfolios and as a result of this it is a means of investing in the cryptocurrency space for the company itself. With the developments that we see around cryptocurrency is getting increasing every day and as a result of these so many additional inventions have been put on cryptocurrencies and they are mind blowing development. This is true because the investors in the cryptocurrency space needs a lot of development and a lot of things are being put into place. Using the bitcoin as a loan is a wonderful development and it will help so many people that are in need of loan and do have the bitcoin to use as collateral. What I do not understand is the fact that the bitcoin that will be used as collateral would be in the same value.