Goldman Sachs unintentionally sparked a war with cryptocurrency evangelists
Goldman Sachs Group Inc. signage is displayed on a monitor on the floor of the New York Stock Exchange (NYSE) in New York, U.S., on Friday, Oct. 7, 2016.
Michael Nagle | Bloomberg | Getty Images
The U.S. bank’s consumer and investment management division released a slide deck ahead of an investor call Wednesday, examining the impact of the coronavirus outbreak on the U.S. economy. A sizable chunk of the presentation focused on bitcoin and other virtual currencies.
“Cryptocurrencies including bitcoin are not an asset class,” Goldman Sachs’ Investment Strategy Group wrote in the opening of one slide. The deck detailed several reasons why cryptocurrencies couldn’t be considered an asset class in their own right, claiming …continued .
[Source: CNBC News]