Goldman Sachs chief says Bitcoin is not an investment class asset 

Sharmin Mossavar-Rahmani explained a negative fact about Bitcoin and raised questions about the actual value of this digital asset. 

Goldman Sachs is a global investment bank. Established in 1869, it operates from New York City. The firm offers various financial services, including investment banking, asset management, and securities. Known for its influence on global finance. This investment bank also offers cash-settled Bitcoin and Ether option trading, alongside CME-listed Bitcoin and Ether futures, since 2021.

On 2 April 2024, Sharmin Mossavar-Rahmani, the chief investment officer at Goldman Sachs, appeared in an interview with the Wall Street Journal (WSJ). 

In the interview, Sharmin criticized Bitcoin investors and indirectly called Bitcoin not a choice of investment asset. 

Sharmin said that Bitcoin is not an investment asset and also said that they are not Crypto believers. She raised a very big question in her view & asked “If we cannot assign a value, then how can we be bullish or bearish on Bitcoin?” she also said that their clients have not shown interest in Bitcoin.”

With these statements, Goodman Sachs confirmed that they are not going to offer Bitcoin spot ETF products shortly. 

In March of this year, Max Minton, Goldman’s Asia Pacific head of digital assets, talked about Bitcoin spot ETF products in an interview with Bloomberg. 

Minton said that the interest of the bank’s clients showed significant interest in Bitcoin, following the approval of Bitcoin spot ETF applications by the United States Securities and Exchange Commission (SEC).

Bitcoin price 

The current trade price of Bitcoin (BTC) is $66,290 & this trade price is 5.5% down over the last 7 days.

Yesterday Bitcoin saw a sudden correction in the trade price by 8% & hit $64.5k. 

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