For all of its fascinated by possibly making an attempt to dabble in some issues cryptocurrency-related, it needs to be mentioned that Goldman Sachs isn’t bought on the asset class. Nor, the truth is, on its standing as an asset class.
“Cryptocurrencies including bitcoin are not an asset class,” Goldman Sachs’ Funding Technique Group wrote within the opening of 1 slide…. “We believe that a security whose appreciation is primarily dependent on whether someone else is willing to pay a higher price for it is not a suitable investment for our clients,” the group wrote.
“We also believe that while hedge funds may find trading cryptocurrencies appealing because of their high volatility, that allure does not constitute a viable investment rationale.”
This isn’t a novel argument, in fact, and it looks as if a sound one. Not less than, it does till you hear tall asshole, half-billionaire and crypto-enthusiast/entrepreneur Cameron Winklevoss’ unanswerable riposte.
That sure looks like an impermissible fact-check to us, however we are able to’t fear about it as a result of the irresistible drive of utilizing a decades-old joke to undermine an allegedly six-year-old case has us helplessly pouring all of our belongings into bitcoin, through Gemini, in fact.