Yesterday was a historic day in financial services. President Donald Trump decreed via Twitter that bitcoin is not, in fact, money.
Hilariously, bitcoin prices rose after the tweet. I guess all the cryptocurrency nerds hate Donald Trump now.
Maybe all the bitcoin geeks channeled their anger at Trump into buying.
After all, new research shows that feelings, not knowledge, dominate our financial decision-making. So crypto heads getting in their feelings about bitcoin is exactly what science tells us would happen.
That’s why all the smartest, hippest finance companies play on your emotions to get you to spend, save, and invest with them.
That’s not the only new trend in finance. Goldman Sachs, an old-school Wall Street investment bank for the 1%, realized it could offer the same level of service to the 99%. Check out the story of how it went from a one-man operation in 19th century New York to a global bank serving the wealthy and the masses alike.
All this and more in today’s Linkage. Enjoy your weekend.