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Although Goldman Sachs has been extremely aggressive towards Bitcoin in recent times, the lender nevertheless issued a warning against investing in cryptocurrencies.
Investment banking giant Goldman Sachs stated in a report published earlier this week which cryptocurrencies aren’t a viable investment, even though lately demonstrating interest in Bitcoin and Bitcoin. Ethereum. 
See more: Goldman Sachs Recognizes Bitcoin as a True Asset Class
While many believe Bitcoin can function as an inflation hedge due to its scarcity, the source of Bitcoin is finite while it’s infinite for the USD.
But not so for Goldman Sachs. Goldman Sachs Commodity Manager believes Bitcoin is better suited to copper than gold. The bank adds that US stocks are a lot better than Bitcoin as a hedge against inflation.
In addition to strongly disagreeing with the opinion that cryptocurrencies such as Bitcoin are “crypto gold,” that the Goldman Sachs report also concludes that they don’t think Bitcoin is a long-term store of value or an asset category. can invest in diversified portfolios.
Based on Bitcoin’s risk and return characteristics, the fact that BTC doesn’t meet any of the standards required to be a strategic advantage in a customer’s portfolio, we don’t recommend investing in it. Purchase cryptocurrencies as an asset.
However, Goldman Sachs isn’t entirely “getting away” from cryptocurrencies. Just this week, Goldman Sachs is likely to provide options and futures trading in Ethereum. While Goldman getting into crypto derivatives is excellent for existing traders, since it provides liquidity to the marketplace, the transfer itself is not always bullish. Main for the marketplace.
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