.lloydblankfein is unfazed by the massive cryptocurrency market correction
Blankfein says that he combines skepticism and pragmatism when it comes to cryptocurrencies, claiming that he wants to remain rational:The 67-year-old investment banker believes that cryptocurrencies might already be too big to fail despite the ongoing market correction given that they have already formed a massive ecosystem.
He states that crypto is happening as of now, but he refrained from predicting the industry's future: It's lost a lot of value, but at a point where it's trillions of dollars of value contributing to it and the whole ecosystem growing around it. Earlier today, the price of Bitcoin careened to $32,950, the lowest level since July 23, 2021. The flagship cryptocurrency is now on track to end its third consecutive month in the red, shedding 45% since the beginning of December and more than 50% from its record high of $69,000 that was set in early November. The market cap of all cryptocurrencies has now shrunk to $1.5 billion.
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