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.
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.
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.
In the constantly fluctuating cryptocurrency market, Bitcoin (BTC) has stolen the spotlight with a dramatic…
The battle for the top altcoins is heating up in March 2024, with Polygon’s native…
In the constantly fluctuating cryptocurrency market, Bitcoin (BTC) has stolen the spotlight with a dramatic…
Fidelity Investments has taken a bold step in the cryptocurrency market by submitting a Form…
In an unexpected turn of events, Dogecoin, the beloved dog-themed memecoin, has skyrocketed to its…
BlockDAG Flies High with 4100 Home Miners Sold! AGIX Token Unlock Causes Frenzy! Jasmycoin Witnessing…