![\"Goldman](\"https:\/\/www.cryptocabaret.com\/wp-content\/uploads\/2022\/03\/lloyd.jpg\")
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A Goldman Sachs senior chairman has asked why crypto is not having a moment despite \u201cthe inflating U.S. dollar\u201d and governments demonstrating that they can and will freeze accounts under certain circumstances. \u201cNot seeing it in the price, so far,\u201d he said. \n He explained that he is keeping an open mind about crypto. However, he questioned why it is not \u201chaving a moment\u201d given \u201cthe inflating U.S. dollar\u201d and governments showing that they \u201ccan and will under certain circumstances freeze accounts<\/a> and block payments.\u201d He opined, \u201cNot seeing it in the price, so far\u2026\u201d<\/p>\n Recently, the Canadian government froze accounts<\/a> tied to the Freedom Convoy trucker protest. Furthermore, since Russia began its invasion of Ukraine, a growing number of governments are placing sanctions on certain Russian individuals and entities, which may include freezing accounts tied to them.<\/p>\n While bank accounts and crypto assets held at exchanges can be frozen, decentralized cryptocurrencies, like bitcoin and ether, cannot be frozen<\/a> directly within the network. The CEOs of crypto exchanges Coinbase and Kraken have advised<\/a> that anyone worried about their crypto assets being frozen should transfer them off exchanges and self-custody them. U.S. Senator Ted Cruz described<\/a>: \u201cOne of the reasons why I\u2019m so bullish on bitcoin is because it is decentralized and not controllable.\u201d<\/p>\n As for inflation, many people view bitcoin as a hedge<\/a> against rising inflation, including famed hedge fund manager Paul Tudor Jones, who said in October last year that he prefers<\/a> bitcoin to gold as an inflation hedge. Blankfein\u2019s investment bank, Goldman Sachs, said in December 2020 that bitcoin is \u201cthe retail inflation hedge<\/a>.\u201d\n<\/p>\n \n \u201cInteresting observation and I kind of agree,\u201d one Twitter user wrote. \u201cAlthough, the only thing having a moment right now is oil, energy, and wheat.\u201d<\/p>\n Crypto analyst Tuur Demeester wrote:\n<\/p>\n Bitcoin is up 10,000% in 72 months, with compounding annual returns of 116%. Kindly give it a minute.<\/p>\n<\/blockquote>\n \nAnother Twitter user told Blankfein: \u201cOh it\u2019s definitely in the price, Lloyd. Zoom out! Now imagine when you, Ken Griffin<\/a>, DHH<\/a> [Ruby on Rail creator David Heinemeier Hansson], and the rest of the new 2022 converts start buying in size. This adoption wave will be bigger than when Druck [Stan Druckenmiller<\/a>] and PTJ [Paul Tudor Jones<\/a>] started buying in 2020.\u201d<\/p>\n Chris Burniske, a partner at VC firm Placeholder, commented: \u201cDon\u2019t paper hands it, Lloyd.\u201d<\/p>\n Some people are more skeptical about cryptocurrency. One tweeted: \u201cCrypto is on the verge of being destroyed, by restrictive government regulation, as BTC<\/a> and other cryptocurrencies are being used by Russian oligarchs as a vehicle for mass money laundering and evasion of sanctions. That is the \u2018moment\u2019 we are probably about to see.\u201d<\/p>\n Digital asset manager Eric Weiss replied:\n<\/p>\n It\u2019s just a matter of education. So few people understand bitcoin\u2019s value proposition. You clearly do. Just hodl with us Lloyd. We are going to make it.<\/p>\n<\/blockquote>\n
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<\/strong>\n<\/p>\nGoldman Sachs\u2019 Blankfein Has a Question About Crypto<\/h2>\n
\nLloyd Blankfein, who is currently senior chairman of the Goldman Sachs Group, tweeted about crypto Sunday. Blankfein previously served as Goldman Sachs\u2019 chairman and chief executive officer from 2006 through September 2018.<\/p>\n![\"Goldman](\"https:\/\/www.cryptocabaret.com\/wp-content\/uploads\/2022\/03\/lloyd-blankfein-tweet1.jpg\" "\\"Goldman")
<\/p>\nMany People Reply to Blankfein\u2019s Crypto Question<\/h2>\n
\nThe Goldman Sachs senior chairman received many replies on Twitter. Some people agreed with him that the price of bitcoin should have risen a lot more while others argued that BTC<\/a> has already gone up tremendously, especially compared to other assets.<\/p>\n\n
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