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The Thesis On Bitcoin - By Goldman Sachs

Shared as received - gaskiya.

Alas, for crypto fans, the answer came as a resounding no when slides of Goldman's presentation, dryly titled "US Economic Outlook & Implications of Current Policies for Inflation, Gold and Bitcoin," leaked on social media. One slide offered the withering perspective that cryptocurrencies like Bitcoin are not even an asset class in the first place, and that they offer neither cash flow nor a hedge against inflation.

"We believe that a security whose appreciation is primarily dependent on whether someone else is willing to pay a higher price for it is not a suitable investment for our clients," the slide concluded. (Fortune)

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