Goldman lists 5 reasons why bitcoin 'not an asset class' - Business Insider

Goldman Sachs lists 5 reasons why bitcoin is 'not an asset class', nor 'a suitable investment'

Reuters

Goldman observed that the cryptocurrency infrastructure is still young and susceptible to hacking or inadvertent loss, and that it is primarily used as a conduit for illicit activity. Goldman noted that the crypto bubble dwarfs all other bubbles, including historic manias like the tulip and dot-com bubbles.Goldman Sachs, led by Jason Furman and Jan Hatzius, said in a presentation on Wednesday that bitcoin "is not an asset class," nor is it "a suitable investment."1. Bitcoin does not generate cash flow like bonds.3. Bitcoin does not provide consistent diversification benefits given its unstable correlations.

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