Goldman Sachs Still Doesn’t Know What to Make of Bitcoin

Banks and other financial institutions have never been close friends of Bitcoin and other cryptocurrencies. Goldman Sachs is a good example, albeit it seems that the bank has some other problems to deal with as well.

This week, the people at Goldman Sachs had an interesting discussion on Bitcoin, inflation, and so forth.

Bitcoin is a Security to Goldman Sachs

Evidence of what this meeting entailed exactly has now come to light.

According to the bank, cryptocurrencies are not an asset class

Moreover, they do not generate a cash flow like bonds, nor are there earnings “through exposure to global economic growth”.

What makes this meeting even more interesting is how Bitcoin is seemingly a security in their opinion.

Related Post

Securities and commodities are two very different things, thus labeling them correctly is of the utmost importance.

Other interesting claims include how Bitcoin is not a suitable investment for clients of Goldman Sachs.

A remarkable comment, given how the bank recently welcomed two major crypto exchanges as official clients.

That would, in theory, indicate how the bank wants to see more people actively seek out exposure to cryptocurrency.

As you would expect, the crypto community isn’t too pleased by these remarks.

Even so, future adoption of Bitcoin and altcoins will not hinge on what Goldman Sachs thinks or wants.

JP Buntinx

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.

Published by
JP Buntinx

Recent Posts

BlockDAG Unveils Dev Release 76: Key Milestones in X1 Miner App Trial

BlockDAG Unpacks Dev Release 76 and the X1 Miner App’s Testing Highlights; Presale Jumps to…

16 mins ago

DeFi Token Presale Continues to Gain Momentum With $1M Milestone After Hybrid Features

This year has been a promising year for emerging DeFi projects and investors took positions…

49 mins ago

When Will There Be A Price Breakout For Notcoin (NOT)? Frustrated Investors Switch To Mpeppe (MPEPE) Guaranteed 100x

As the cryptocurrency market remains volatile, investors are always on the lookout for the next…

2 hours ago

BlockDAG Signs UFC Champ Alex Pereira: Best Crypto to Watch for LEO & BNB Investors

UNUS SED LEO and BNB Investors Pick BlockDAG as Project Signs UFC Champion Alex Pereira…

12 hours ago

MOONHOP Approaches $1M; Surpasses XRP Price Forecast, BlockDAG Initial Sale

What a Leap! MOONHOP Secures Almost $1M in Record Time; Insights into XRP Price Forecast…

13 hours ago

BlockDAG Partners with UFC Champ, BNB Rallies & ETH Price Forecast

BlockDAG Presale Nears $60M Following Partnership With UFC Champ Alex Pereira; BNB Bullish as ETH…

20 hours ago