Published on August 3rd, 2018 | by bitcoin0
Future cost of bitcoin will hurt Goldman Sachs
Goldman Sachs is not optimistic for the near-term fate of cryptocurrency.
Goldman is the latest global investment bank to take the view that cryptocurrency is neither a medium of exchange, “nor a unit of measurement, nor a store of value.”
On Thursday, UBS made a similar assessment and said bitcoin is too “unstable” to be a mainstream currency.
The investment bank is reportedly looking to launch a bitcoin trading desk this year and become the first Wall Street firm to make a market in cryptocurrencies.
The bank’s CEO Lloyd Blankfein said in June that while he doesn’t own bitcoin, he wouldn’t rule out the cryptocurrency having a future.