BitcoinBitcoin lacks market integrity, says former Trump financial adviser

Gary Cohn, the previous president of Goldman Sachs and former chief financial adviser to Donald Trump, believes that Bitcoin may not maintain long-term prospects for buyers. 

In an interview with Bloomberg launched immediately, Cohn mentioned that the crypto asset “lacks some of the basic integrity of a real market” resulting from its lack of transparency. He mentioned that buyers may query a system “that does not have an audit trail.”

“For all the reasons it’s a strong developing asset class, it may fail,” mentioned Cohn relating to Bitcoin. “Part of the integrity of a system is knowing who owns it and knowing who has it and knowing why it’s being transferred.”

The previous Goldman Sachs president has spoken about Bitcoin (BTC) and blockchain following his resignation from his place within the Trump administration in 2018. He has since joined the board of advisers of blockchain-related tech firm Spring Labs.