Goldman Sachs Chief Investment Officer: Bitcoin is not an asset! Crypto finance has never been democratized

The website 120btC.coM reported that Sharmin Mossavar-Rahmani, chief investment officer of Goldman Sachs (GS), said that although many cryptocurrency supporters claim that this is a new system of financial democratization , but in fact the final decision is driven by a small number of people in power.

Chief Investment Officer of Goldman Sachs: Bitcoin is not an investment asset

Sharmin Mossavar-Rahmani is skeptical about Bitcoin and digital assets. Even if the Bitcoin spot ETF shines this year, it has not changed. Her long-term view.

According to an interview with the Wall Street Journal, she still does not believe that Bitcoin is an asset class: Bitcoin is not an investment asset, and I am not a believer in cryptocurrency. If we can't assess the value of Bitcoin, then how do we see Bitcoin rising and falling? Our customers are also not interested in Bitcoin.

Crypto finance has never been democratized and is only made by a few people

Mossavar-Rahmani has been accused of hypocrisy in the crypto industry, pointing out that while many cryptocurrency proponents claim it is a democratized new system , but in reality decision-making is ultimately driven by a small number of people in power.

However, Mossavar-Rahmani seems to be at odds with what Max Minton, Goldman Sachs’ head of digital assets in Asia Pacific, said.

According to Bloomberg, the recent approval of Bitcoin spot ETFs has reignited the interest of Goldman Sachs clients, and many of the largest clients have begun to be active or explore in the crypto field. Last year was a relatively quiet year, but since this year Since the beginning of the year, we have seen significant growth in customer interest in the crypto space. Most of the demand comes from high-net-worth clients, mainly traditional hedge funds, but Goldman Sachs is also exploring a "broader client base" including asset managers, digital asset companies, etc.

Goldman Sachs announced the end of its nearly two-year bearish stance on the exchange Coinbase (COIN) in early March, but COIN has increased more than fivefold since then.

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