Multiple reasons Goldman Sachs say cryptocurrencies like Bitcoin are not an asset class
Leaked slides from a Goldman Sachs investor presentation
Goldman Sachs say the danger of hacks, other losses related to cryptocurrencies, along with their use to abet illicit activities are all liabilities for crypto. GS conclude that cryptocurrencies, such as Bitcoin, "are not an asset class."
GS say further on the digital currencies:
- inherent lack of cash flow
- inability to generate earnings
So, really nothing new in these?