Goldman Sachs is parking millions in bitcoin business: 'we have ideas of how we can make money in the future'

In the first publicly announced bitcoin-related investment, Goldman said on April 30 that it co-led a $50 million financing round for Circle, a bitcoin startup led by serial tech entrepreneur Jeremy Allaire. The startup offers a new digital wallet meant for everyday consumers. China’s IDG Capital Partners was the other lead investor on the round, which brings Circle’s valuation to what Fortune estimated at $200 million.

“We want to get people to think of transferring value as something as easy and utilitarian as sending an email,” Allaire says.

The recent cash infusion, Allaire says, will focus on international expansion and greater adoption of the service for both bitcoin and other currencies, such as the US dollar and Chinese yuan.
“We have ideas of how we can make money in the future,” he says, “and no we can’t share it.”