Goldman Sachs considers cryptocurrency an inappropriate investment option

Goldman Sachs analysts still do not recognize Bitcoin and other cryptocurrencies as assets, considering them an unworthy option for investing.

In a recent presentation to clients, the bank stated,that, despite the growing popularity and influence of this class of digital money, they cannot be called assets. Goldman Sachs' main arguments are that cryptocurrencies lack cash flow and are unable to generate profits due to overall economic growth.

Analysts also noted high volatility, unstable correlations with otherasset classes, lack of evidencesuccessful use for hedging inflation, the presence of many fork-clones, private hacking of exchanges and wallets, as well as use in illegal operations.

Based on all of the above, the bank does not considercryptocurrencies are a scarce resource, do not consider them as a worthy investment option and do not recommend clients to include them in their portfolios in the medium or long term.

However, while Goldman Sachs criticizes cryptocurrency, other financial giants such as Fidelity Investments are actively expanding their presence in this market.

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