Unconfirmed sources are reporting that shares of Wall Street giant Goldman Sachs are rallying after a late announcement that they are launching a Bitcoin trading unit. The new virtual currency trading unit will actually work to make arbitrate trades in several virtual currencies including Bitcoin, Linden Dollars, World of Warcraft Gold, and Facebook credits.
“Hey, virtual currencies are still currencies, and where there are currencies there are opportunities for Goldman Sachs,” Say Kent Silverman, the new director the Goldman Virtual Currencies Trading Unit. “We are an aggressive forward looking company and we see huge vistas of opportunities in these virtual currencies and the virtual worlds they are used in.”
Insiders close to the unit believe Goldman will launch a cross currency trading platform for the virtual currencies as well as mutual funds, real estate funds and derivatives contracts all denominated in the virtual currencies.
“This is really going to change things in the virtual currency markets,” Says virtual currency expert and 2nd life resident Gilbert Rickman of Rickman Consulting. “With Goldman jumping in I am sure the other big names will soon follow and open up this world to the broader investment community.”