Multiple reasons Goldman Sachs say cryptocurrencies like Bitcoin are not an asset class

Leaked slides from a Goldman Sachs investor presentation

Goldman Sachs say the danger of hacks, other losses related to cryptocurrencies, along with their use to abet illicit activities are all liabilities for crypto. GS conclude that cryptocurrencies, such as Bitcoin, "are not an asset class."

GS say further on the digital currencies:

• inherent lack of cash flow
• inability to generate earnings
• volatility

Yada, yada, yada. With other words: no market in which Goldman can screw its own clients. Too bad!!!!!

 

When Goldman speaks, Politicians listen. This might be the start of Regulation

 

As in good or bad?

 

I think their clients are sophisticated enough to know what they do

 

I don't invest in crypto but I would welcome less crypto pump and dump/scam/spambots

 

You can say the same things about gold. Look at an inflation adjusted chart of gold in the 70's and 80's and tell me if that's not volatile

 

i see