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Is Goldman Sachs betting on Bitcoin?

A friend pointed me to this¬†news article about Goldman Sachs’ recent investment in Circle, a Bitcoin startup. So, is Goldman Sachs actually betting on Bitcoin? I don’t think so.

We must differentiate between Bitcoin the currency, and Bitcoin the payment technology. The startup in question, Circle, is quite clearly all about leveraging the payment technology. I think there is a huge opportunity and future for micropayment technology. This part of the financial technology sector has been ripe for disruption since PayPal, Visa et al stopped innovating years ago. GS is clearly betting on that aspect here, not on the future of the currency itself. 

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