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Goldman Sachs Changes Its Mind and Calls Cryptocurrencies “Not a Viable Investment” | My booklet

The institution’s experts believe in particular that blockchain technology could become obsolete and indicate that “those who care about environmental, social and government goals”Could reject these currencies.

In a client report released on Monday, US investment bank Goldman Sachs warns against investing in digital currencies.

While many ecosystem components, including blockchain technology, have the potential to contribute to long-term economic growth, cryptocurrencies are not a viable investment to include in our clients’ diverse portfolios.“, Note the analysts of the bank.

Experts believe in particular that “technological advances could make blockchain technology obsolete“. They also suggest that the high energy consumption and the use of digital currencies by cybercrime “could discourage the adoption of cryptocurrencies by those who care about environmental, social and government goals.

With the publication of this new report, Goldman Sachs reverses its point of view, announced in mid-May. Then, in the document entitled “Cryptocurrencies: new asset class? ”, She considered bitcoin as“ an investable asset“.

In 2017, Goldman Sachs was one of the first institutions to launch a bitcoin trading desk, which was then on the rise. After the fall in currency prices, it suspended the initiative to renew it last March, collects the CryptoPotato portal.

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