Goldman Sachs Doubts Bitcoin as Store of Value Citing Environmental Problems ...
Global investment bank Goldman Sachs is questioning whether bitcoin can be a long-term store of value and digital gold. The firm’s analysts cited various issues with the cryptocurrency, such as environmental problems, “lack of real use,” and competition from other cryptocurrencies. Goldman Sachs Sees Problems With Bitcoin as Long-Term Store of Value Goldman Sachs published a note outlining some problems with bitcoin as digital gold on Wednesday. The firm’s analysts, led by its top commodities strategist Jeffrey Currie, have voiced concerns about whether the....
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While writing on Tuesday to its clients, Goldman Sachs mentioned Ethereum as the blockchain having the highest recorded real use cases. The firm also suggested that Ethereum may dominate the digital store soon. Goldman Sachs observed that most people now prefer using Ethereum’s smart contracts due to ETH’s increasing popularity. This situation may lead to […]
Global investment bank Goldman Sachs says ether is the cryptocurrency with the highest real use potential and it could overtake bitcoin as the dominant digital store of value. Ether Could Overtake Bitcoin as Dominant Store of Value, Says Goldman Sachs Goldman Sachs shared its view on the future outlook for bitcoin and ether in a note published Tuesday. The investment bank’s analysts reportedly argued that ether’s real use cases could make the cryptocurrency the dominant digital store of value, overtaking bitcoin as the top cryptocurrency. They wrote: [Ether] currently looks....
A new Goldman Sachs report on digital currencies has found that while bitcoin is not a practical currency, its underlying ledger technology could hold promise. The top-of-mind report, entitled 'All About Bitcoin', appears to have been compiled recently and it is possible Goldman Sachs commissioned it following the highly publicised Mt. Gox collapse. The report outlines the basics, citing bitcoin's advantages and shortcomings, backed by statements from critics and supporters. The main difficulties facing bitcoin, according to Goldman's Dominic Wilson and Jose Ursua, include the notion that....
Goldman Sachs’ economists now see an increased risk of a U.S. recession. “We are increasingly concerned that the Fed will feel compelled to respond forcefully to high headline inflation and consumer inflation expectations if energy prices rise further, even if activity slows sharply,” they explained. Goldman Sachs on Increased Risk of Recession Goldman Sachs’ economists, led by chief economist Jan Hatzius, explained in a note Monday that the global investment bank has cut its growth forecasts for the U.S. economy, warning that the risk of a recession is rising,....
On June 18, Goldman Sachs began trading Bitcoin futures through Mike Novogratz’s Galaxy Digital network, paving the way for banking institutions. Galaxy Digital announced the agreement as part of Goldman Sachs’ crypto investment strategy. Galaxy And Goldman Sachs Shake Hands Goldman Sachs has taken a step further in its efforts to assist hedge funds and […]