In the world there are a small number of companies that are able to strongly influence the financial market with just its opinion. And Goldman Sachs, the legendary u.s. financial institution is, without doubt, part of that group. Therefore, when a presentation leaked from the company, it shows the distrust that the same feel to BTC, we should ask ourselves what Goldman Sachs disappoint the followers of the Bitcoin?
The attitude of the financial world to the cryptocurrencies
With the passing of the years, financial institutions globally have been changing their opinion about cryptocurrencies as Bitcoin. And it is not for less, because, in the early years of Bitcoin, the criptoactivo was little more than a curiosity for enthusiasts of cryptography. Today Bitcoin along with other virtual coins like Ethereum and XRP are financial products of first level. The fundamental change in the attitude of these large institutions to Bitcoin, and the technology Blockchain in general, was given after the great bullish rally of 2017. Therefore, although in many cases the same did not make the banks turn from night to morning in defenders of the criptoactivos. If you put the spotlights of all the media about BTC, and forced institutions such as Goldman Sachs to analyze the operation of the virtual currency. So, in the last three years, optimism has reigned within the crypto world. In particular, as they came news from the financial world traditional. Which seemed to indicate that, large investment banks were beginning to explore the possibility of accessing the criptoactivos. A perspective which reached its peak two days ago, when it was announced that Goldman Sachs, was preparing a presentation on Bitcoin to their clients. Raising rumors all over the crypto world, that barajaban the possibility that the financial institution would start to recommend to their clients the purchase of BTC.
Users of Bitcoin scammed by Goldman Sachs
But, at the end of the day, Goldman Sachs has defrauded the followers of the Bitcoin. After the filtered part of the presentation of the company entitled “US Economic Outlook & Implications of Current Policies for Inflation, Gold and Bitcoin“. In which, not only the institution does not recommend to clients the purchase of Bitcoins, but even he argues that the criptomoneda is not even a financial asset. So, in a slide leaked can read phrases like “we Believe that a product whose appreciation mainly depends on if someone else is willing to pay a higher price for it, is not a suitable investment for our customers.“ Even coming to say that the criptomoneda would have deep ties with organized crime. Goldman Sachs disappoint the followers of the Bitcoin with your presentation. Source: Fortune, of course, the reaction of the crypto world has not been made wait. With great personalities, the same as Tyler Winklevoss, pointing to the double morality of Goldman Sachs:
Goldman Sachs: In 2019, $2.8 billion in Bitcoin was sent to currency exchanges from criminal entities.Fun Fact: Goldman Sachs facilitated $6 billion in money laundering via 1MDB scandal between 2012-13.Double standard much?— Tyler Winklevoss (@tylerwinklevoss) May 27, 2020
His brother Cameron Winklevoss saying that Bitcoin does not generate the same benefits as a bonus because there is a bonus:
Bitcoin does not generate cash flow like bonds.” Because it’s not a bond. And the sky is blue.— Cameron Winklevoss (@winklevoss) May 27, 2020
And Ryan Selkis recalling that BTC has a market cap more than two times higher than that of Goldman Sachs:
Fun fact, in just over a decade #bitcoin you have 2.5 x d Goldman Sachs market cap BTC’s volatility is a defensive weapon that has allowed it to hide in plain sight before slaying the vampire squid for good. pic.twitter.com/cR6dWEs3fW— Ryan Selkis (@twobitidiot) May 27, 2020
However, despite the defense of Bitcoin made by its users through the social networks. The presentation of Goldman Sachs to demonstrate that traditional financial institutions have not yet come to accept Bitcoin as a virtual currency, or a valuable financial asset. So, the long-awaited arrival of the institutional investors to the crypto market, it still seems quite distant.