Goldman Sachs has been a bit skeptical of the cryptocurrency revolution, but has also shown itself to be, at times, bit-curious. Well, the former's all out the window now that the Elect’s only real competition on Wall Street is dipping its toe into the providing-fake-and-probably-worthless-entries-on-blockchain-ledgers-to-our-rich-but-impossibly-stupid-clients water, D.J. D-Sol & co. need to keep up with the Gormans.
The bank aims to begin offering investments in the emerging asset class in the second quarter, according to Mary Rich, who was recently named global head of digital assets for Goldman’s private wealth management division…. Goldman is looking at ultimately offering a “full spectrum” of investments in bitcoin and digital assets, “whether that’s through the physical bitcoin, derivatives or traditional investment vehicles,” she said….
The move means that soon, clients of two of the world’s preeminent investment banks – Goldman and Morgan Stanley – will have access to a nascent asset class that has intrigued billionaires and digital currency believers alike.
Of course, most of you don’t have the $25 million lying around to become a Goldman private wealth client. Luckily, someone else is offering exposure to bitcoin with a side of guacamole and only a slightly elevated risk of diarrhea and life-shattering regret.
Chipotle is giving away $100,000 worth of bitcoin on Thursday to celebrate National Burrito Day….
As part of the campaign, Chipotle is partnering with Stefan Thomas, the San Francisco man who famously lost $220 million worth of bitcoin because he couldn't remember the password to his digital wallet…. "If players are unsuccessful in their ten attempts and endure the same fate as Thomas, they may be surprised and delighted with a special offer from Chipotle," the company said in a press release.
Not as surprised and delighted as they would be with $25,000 worth of fractional bitcoin, or even probably one of the 10,000 free burritos also on offer, but there’s only one way to find out.