{"id":277803,"date":"2021-06-18T08:01:53","date_gmt":"2021-06-18T05:01:53","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/goldman-sachs-analysts-divided-over-whether-bitcoin-is-an-investable-asset-class\/"},"modified":"2021-06-18T08:01:53","modified_gmt":"2021-06-18T05:01:53","slug":"goldman-sachs-analysts-divided-over-whether-bitcoin-is-an-investable-asset-class","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/goldman-sachs-analysts-divided-over-whether-bitcoin-is-an-investable-asset-class\/","title":{"rendered":"# Goldman Sachs analysts divided over whether Bitcoin is an ‘investable asset class’"},"content":{"rendered":"

“# Goldman Sachs analysts divided over whether Bitcoin is an ‘investable asset class’ <\/strong>”
\n<\/p>\n

Wall Street investment bank Goldman Sachs has made another U-turn on its stance toward Bitcoin as it struggles to define the asset\u2019s investment status.<\/p>\n

The investment bank flip-flopped again in its app<\/a>roach to cryptocurrencies with a report issued earlier this week that claims\u00a0 they are not a \u201cviable investment\u201d.<\/p>\n

The report, titled \u201cDigital Assets: Beauty Is Not in the Eye of the Beholder<\/em>\u201d, concluded Bitcoin is not \u201ca long-term store of value or an investable asset class\u201d.<\/p>\n

This contradicts their May 21 report titled \u201cCrypto: A New Asset Class?<\/em>\u201d which was largely positive about the idea and even featured Matthew McDermot, global head of digital assets at Goldman Sachs, saying: <\/p>\n

“Bitcoin is now considered an investable asset”.<\/p><\/blockquote>\n

That in turn, was a repudiation of another Goldman Sachs presentation<\/a> last year where different analysts from the bank provided five reasons that Bitcoin was not an asset class suitable for investmen. <\/p>\n

In the new report, the bank\u2019s Investment Strategy Group stated it wanted to play it safe with regards to cryptocurrency. \u201cWe have refrained from repeating the positive and negative hype that surrounds this ecosystem because we do not want clients to be seesawed, even swayed by a cacophony of assertions, many of them unsubstantiated,\u201d the report said. <\/p>\n

It went on to state that Bitcoin was not \u201cdigital gold\u201d \u2014 but in any case, gold itself was not a reliable store of value:<\/p>\n

\u201cThe argument that Bitcoin and cryptocurrencies are a digital version of gold does not confer any value to Bitcoin and other cryptocurrencies, because gold itself is not a consistent or reliable store of value,\u201d<\/p><\/blockquote>\n

\n

The Goldman Sachs Investment Strategy Group should sign off its research pieces on crypto with “Have Fun Staying Poor”. pic.twitter.com\/TiedRBxWhI<\/a><\/p>\n

\u2014 Alex Kr\u00fcger (@krugermacro) June 14, 2021<\/a><\/p><\/blockquote>\n