Advocates of Bitcoin (BTC) have been widely criticized Goldman Sachs after it became known that The bank giant doesn’t consider this as a real asset class.
The material divided into one Investor conference call on May 27 revealed that it is the fifth largest bank in the United States despises the largest cryptocurrency.
You don’t have to buy BTC
The main reason for the continuing lack of attention, Goldman says, is that Bitcoin does not generate revenue streams for holders. For example, just like stocks and bonds.
“We believe that a value that depends mainly on whether someone else is willing to pay a higher price This is not an appropriate investment for our customers, “a PowerPoint presentation was shown.
Along with other claims that a high volatility, Criticism is nothing new as Bitcoin has seen it Years of contempt from the traditional banking sector. Just last week, asset manager Peter Mallouk told CNBC that despite his recent returns, there is “no need” for an investor to buy Bitcoin.
In the meantime the sound of Goldman irritated some of the best known personalities in the Bitcoin industry and beyond.
In response, D-TAP founder Dan Tapeiro argued The bank is just worried for your source of income.
“Goldman Sachs does not charge a fee when a customer buys #bitcoin. Buying Btc is an implicit refusal to buy assets that Goldman Sachs sells and is charged for commissions,” he wrote Twitter .
Buying BTC contradicts the worldview of selling something and collecting commissions for it.
Meanwhile, Tyler Winklevoss, co-founder of Gemini Exchange, argued the attention that was given to Bitcoin suggested that a longer term change would take place.
“Cryptocurrencies are what you visit when you can’t get to Wall Street.” tweeted .
The quality of Goldman Sachs’ latest # Bitcoin study shows that the route is changing. Today, cryptocurrency is what you visit when you can’t get to Wall Street
in the another tweetWinklevoss contradicted Goldman’s statement and wrote:
That you smoked? I thought Goldman was Wall Street Bank for smart investors
Others simply repeated it Bitcoin is immune to critics, This has been proven in recent years by top-class reviews that have less and less impact on the price.
“Frankly, most of his arguments were pitiful”, meant John Bednarski, CEO of School of Arms Media.