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IPFS News Link • General Opinion

"What Are You Smoking?" Winklevoss Pans Goldman Sachs Bitcoin Bashing

• by William Suberg

Bitcoin (BTC) supporters have widely panned Goldman Sachs after it emerged that the banking giant does not consider it as a real asset class.

Materials from an investor call on May 27 revealed that the United States' fifth-largest bank is dismissive of the largest cryptocurrency

Goldman wheels out legacy Bitcoin complaints

The main reason for the continued lack of attention, Goldman says, is that Bitcoin does not generate revenue flows for holders, for example, in the same way that stocks and bonds do. 

"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," a related PowerPoint presentation states.

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