Goldman Sachs has claimed that the Bitcoin is a bubble that’s bigger than the Internet or even the famous Tulipomania in the netherlands in the middle of the XVIIᵉ. It is a yet another warning from the bank against Bitcoin and crypto-currencies in general.
Goldman Sachs and Bitcoin/Source : Dealbreaker
“A craze surprising “, according to Goldman Sachs
Indeed, in a letter to its investors, the analysts of the famous firm banking have warned against the increase of the value of crypto-currencies, highlighting the high volatility of Bitcoin and Ethereum, as well as the increase of the market value of the companies who work in and around technology Blockchain. Here is a concrete example. The Crypto Company, has seen its value climb by more than 17,000 % before the Securities and Exchange Commission of the United States will interrupt the negotiations. According to the analysts of Goldman Sachs, the craze around Bitcoin is quite surprising because the most important crypto-currency in the world that does not fulfil the role it has set.
For Goldman Sachs, the Bitcoin has more disadvantages than advantages
“We believe that the concept of digital currency which operates the technology Blockchain is viable in view of the different advantages it offers, namely the ease of overall implementation, lower transaction costs and finally the high traceability of transactions. However, the Bitcoin does none of these key benefits. “This is how Goldman Sachs thinks Bitcoin. The bank’s analysts cited the fact that a transaction of Bitcoin can take up to 10 days to be processed. Still according to the report, the high transaction costs are also a problem. However, Goldman Sachs believes that in spite of the inflation of Bitcoin and other crypto-currencies, there is no risk of the digital currency have an impact on the economies of the us and the world.
Source : Coindesk