Sharmin Mossavar-Rahmani, Chief Investment Officer of Wall Street giant Goldman Sachs (GS), said in an interview that although many cryptocurrency supporters claim that this is a new system of financial democratization, the fact is that major decisions are ultimately made by a few people in power. promote.
Goldman Sachs chief investment officer: Bitcoin is not an investment asset
Sharmin Mossavar-Rahmani has long been skeptical of Bitcoin and digital assets. Even though the Bitcoin spot ETF has become popular this year, it has not changed her long-term views.
According to an interview with the Wall Street Journal, she still doesn’t think Bitcoin counts as an asset class:
Bitcoin is not an investment asset and I am not a believer in cryptocurrencies myself. If we can't assess the value of Bitcoin, then how do we see Bitcoin rising and falling? Our customers are also not interested in Bitcoin.
Goldman’s Sharmin Mossavar-Rahmani remains skeptical about bitcoin, even as the cryptocurrency has soared this year https://t.co/rsHBhIxudk https://t.co/rsHBhIxudk
— The Wall Street Journal (@WSJ) April 2, 2024
Crypto finance has never been democratized and is only made by a few people
Mossavar-Rahmani also criticized the hypocrisy of the crypto industry, pointing out that although many cryptocurrency supporters claim that this is a new system of financial democratization, the fact is that major decisions are ultimately driven by a small number of people in power.
However, Mossavar-Rahmani seems to be at odds with Max Minton, Goldman Sachs’ Asia-Pacific head of digital assets.
Max Minton only said this in an interview with Bloomberg at the end of March:
The recent approval of a Bitcoin spot ETF has renewed interest among Goldman Sachs clients, with many of the largest clients becoming active or exploring the crypto space; last year was a quieter year, but since the beginning of this year we have seen client interest in the crypto space Interest has grown significantly. Most of the demand comes from Goldman Sachs' existing clients, mainly traditional hedge funds, but Goldman Sachs is also exploring a "broader client base" including asset management institutions, digital asset companies, etc.
Goldman Sachs announced the end of its nearly two-year bearish stance on exchange Coinbase (COIN) in early March, but COIN has gained more than fivefold since then.
(Fivefold rise after downgrade to sell, Goldman Sachs ends bearish stance on Coinbase, upgrades to neutral)
This article Goldman Sachs Chief Investment Officer: Bitcoin is not an asset and crypto-finance has never been democratized first appeared on Chain News ABMedia.
