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Coinbase investor and Fundstrat analyst explain why Goldman Sachs mispriced Bitcoin

May 30, 2020

A leaked slide from a customer conversation shows that Goldman Sachs doesn’t believe Bitcoin is an asset class. Coinbase Angel investor Seth Ginns and Fundstrat analyst David Grider explain why Goldman continues to hold this outdated view.

Ginns and Grider attended Cointelegraph’s weekly Crypto Live Show to bring an investor’s perspective into the usual line of traders. They are also deeply concerned with a variety of issues, including how they started investing in cryptocurrencies, why they stayed, the macroeconomic impact of cryptocurrencies in the financial world, digital currencies from private and central banks, and institutional participation in space , watch the full recording of the live broadcast in the video above, or proceed to 11:05 PM to go straight to the Goldman Sachs discussion.

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Goldman Sachs filters his opinion on Bitcoin

Coinbase investor and Fundstrat analyst explain why Goldman Sachs mispriced BitcoinCoinbase investor and Fundstrat analyst explain why Goldman Sachs mispriced Bitcoin

Cointelegraph reported that Goldman Sachs, on May 27, calling on the state of the U.S. economy, appeared to be preventing its customers from investing in Bitcoin. This was discovered after a PowerPoint slide from Goldman’s presentation. leaked to the public.

Goldman Sachs’ alleged foil leaked from the call on May 27. Source:Ryane Browne’s Twitter account..

On the other side of the spectrum is former hopeful President Michael Bloomberg, who has already recognized cryptocurrencies as an asset class. When asked whether they support the Bloomberg or Goldman perspective, both Ginns and Grider opposed Goldman.

“Outdated” arguments against Bitcoin

Ginns stated that he believed the problem that bitcoin was an asset class had already been resolved, and referred to another mistake elsewhere in Goldman’s presentation, suggesting that he knew the entire report:

“One of the most interesting cryptocurrency devaluations we saw yesterday was the idea that cryptocurrencies are often used for illegal purposes and I found it really funny … so I thought it was a very good indicator of how old fashioned it is that kind of argument when he looked down on cryptocurrencies. “

Grider also noted that Goldman’s approach to cryptocurrencies has not changed significantly in recent years:

“Goldman: Obviously, they’re smart topics, very, very smart topics, some of the smartest topics on Wall Street. I think the story they used when they called and at the table is from 2017, 2018 … I don’t think so. The story they used has evolved a lot. “

Grider goes on to explain why he believes Goldman’s position is partly due to political motivation. To hear the full explanation, watch Cointelegraph’s live stream Crypto Markets on May 28th in the video above.

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