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Goldman's take: "Cryptocurrencies Including Bitcoin Are Not an Asset Class"
Just reviewed the slides from the Goldman client call later this morning re gold & bitcoin. This slide header summarizes Goldman's take:
— Barry Silbert (@BarrySilbert) May 27, 2020
"Cryptocurrencies Including Bitcoin Are Not an Asset Class"
Added at 7:17am
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My favorite line from the Goldman slides:
— Barry Silbert (@BarrySilbert) May 27, 2020
"We believe that a security whose appreciation is primarily dependent on whether someone else is willing to pay a higher price for it is not a suitable investment for our clients."
[I guess equities are now off limits?] https://t.co/tu9zezzXmG
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