Giant Investment Bank Veto from Goldman Sachs to Bitcoin
According to preliminary reports, the global investment bank announced that the cryptocurrency is “not an asset class” and cannot be considered “an appropriate investment instrument”. The news comes after Twitter comments by Barry Silbert, founder and CEO of Digital Currency Group, who claimed to see slides from the meeting.
Goldman Sachs Vetoed Bitcoin
The bank seems to have completely rejected the cryptocurrency, rather than clearly demonstrating the role of Bitcoin in an economy with medium-term high inflation .Previously, news about this meeting has been on the agenda and has excited the cryptocurrency industry recently.It is easy to see the reasons for this rejection under the heading of the presentation titled “The Economic Outlook of the USA and the Results of Current Inflation, Gold and Bitcoin Policies”. The call by the Investment Strategy Group and Goldman Sachs executives took place at 10:00 this morning (EST).
After hearing that Goldman Sachs turned Bitcoin into a customer call for inflation, many industry watchers thought the news would come to the conclusion that the news would only be positive for Bitcoin and corporate acceptance.YouTuber Omar Bham (Crrrrypt0) explained to the followers, “This will be the most bull job I’ve seen in a while”.However, information that Silbert reported before the meeting shows that the bank was less interested in Bitcoin than hype would show. Digital Currency Group CEO states that the reasons for ignoring the digital currency of one of the slides it sees are written as follows:
“We believe that a security that is admitted primarily depends on whether someone else wants to pay a higher price is not an appropriate investment for our customers.”
Based on the above, Silbert also jokes that the bank should stop trading stocks.