Goldman Sachs CEO came out and said it was “arrogant” to assume cryptocurrencies will fail and that investors need to keep an eye out for it as an emerging asset. He even went on to say that just like Gold and Silver in the past had transitioned to paper money. Digital currencies like Bitcoin may one day replace paper money. This is a big statement from the CEO of one of the biggest financial institutions in the world. Although I do agree with him that paper money will one day be somewhat obsolete(it already in some ways is because everything is handled digitally with credit now), it is very surprising to hear this from a big name in the banking sector who have been somewhat less than welcoming to the era of cryptos. However, many smaller banks have already caught on and Goldman is a pioneer when it comes to the big banks as they’ve been much more supportive of it than other institutions like Bank or America or J.P. Morgan. However, those banks can’t hold off the wave forever and eventually they will need to come around as well.