NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: ‘Crypto Week’ Takes A Hit: US House Fails To Advance Key Acts
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: ‘Crypto Week’ Takes A Hit: US House Fails To Advance Key Acts

Goldman Sachs: Bitcoin Has Generated More Media Attention Than Is Warranted

Rick Delafont
Rick Delafont
1 year ago
2 mins read
Goldman Sachs

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Despite grabbing headlines for their plans to launch a Bitcoin trading desk this year, Goldman Sachs clearly still has reservations about digital currencies. The multinational investment bank believes that lower prices are on the horizon.

Has Bitcoin Received More Media Attention Than It Warrants?

Goldman Sachs’ investment strategy group has stated that the price of Bitcoin is set for further declines.

They expressed such sentiments in their midyear economic-outlook report. The document assesses the concerns raised in their start-of-year report titled (Un)Steady as She Goes.

According to a report in Business Insider, the investment strategy group’s leader, Sharmin Mossavar-Rahmani stated:

“Our view that cryptocurrencies would not retain value in their current incarnation remains intact and, in fact, has been borne out much sooner than we expected.”

The chief investment officer at the multinational investment bank went on to claim that cryptocurrency does yet fully serve vital roles associated with a currency. These are: medium of exchange, unit of account, or a store of value.

Mossavar-Rahmani continued, stating that the digital asset class is not sufficiently developed to impact upon wider financial markets. His reasoning is that the entire market capitalisation of digital assets are just 0.3% of the world GDP. The investment officer also claimed that cryptocurrencies had perhaps received much more coverage than they should have:

“In fact, we believe that they garner far more traditional media and social media attention than is warranted.”

The report from Goldman Sachs may come as a surprise to those who follow the space closely.

Back in December 2017, NewsBTC reported on the investment bank’s plans to launch an over-the-counter (OTC) trading desk for institutional investors to get exposure to popular cryptocurrencies. Our report stated that the bank was aiming to have their product online by June of this year. However, such a trading desk has yet to be launched.

Bitcoin comprised of just a few paragraphs in the 42-page report addressed to Goldman Sachs’ clients that was published today. Much of the document focused on other factors impacting investment markets. These include: global economic growth, probability of a U.S. recession, inflation rates, equity markets, U.S. domestic politics, and increased geopolitical tensions.

New York Times journalist and author of Digital Gold: Bitcoin and the Inside Story of the Misfits, Nathaniel Popper, responded to the report and accusations of hypocrisy from the cryptocurrency community via Twitter.

He was quick to remind his followers that huge institutions such as Goldman Sachs rarely (if ever) operate as a single entity. Rather, they are comprised of different departments that are capable of forming “different hypotheses about the markets they operate in.”

This — and the different approaches being followed by other parts of Goldman — is a great reminder of the way that different parts of the company form different hypotheses about the markets they operate in. It's not a monolithic entity with one opinion. https://t.co/5rbRUp6gNs

— Nathaniel Popper (@nathanielpopper) August 3, 2018

Featured image from Shutterstock.
Tweet123Share196ShareSend
Rick Delafont
Rick Delafont

Rick Delafont

Based in Europe, Rick has written about the cryptocurrency industry since 2016. He was first drawn to Bitcoin as a means of payment but quickly became fascinated by its wider potential implications. His interests lie in the political, economic, and social impact of the unfolding digital asset revolution.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Bitcoin

This Analyst Predicted Bitcoin’s Rally To $120,000 Months Ago, Here’s The Rest Of The Forecast

A crypto analyst who accurately predicted the Bitcoin (BTC) price surge to $120,000 months ago has returned with a bold...

Scott Matherson 2 hours ago
Bitcoin

Bitcoin Returns Under $117,000: Is Social Media FOMO To Blame?

Data shows Bitcoin’s retrace below the $117,000 level came right after a major spike in social media chatter, often a...

Keshav Verma 3 hours ago
Chainlink

Chainlink Bullish Trigger: Why $16 Holds The Key To The Next Rally

Sharing his latest outlook, CRYPTOWZRD revealed that Chainlink closed indecisively, suggesting the market is still weighing its next move. According...

Godspower Owie 4 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Google AI預測2025年山寨幣千倍幣:XRP、Pi幣與Snorter強勢爆發

Mark Mak 1 hour ago

TOKEN6900已募資突破53萬美元 達成硬頂10%

estherw 1 hour ago
Bitcoin

If You’re Wealthy, 1 Bitcoin Should Already Be In Your Wallet, Expert Says

Christian Encila 1 hour ago

Premium Sponsors

Press Releases

  • e 3 coiny poniżej 1 dolara mogą zamienić 200 dolarów w...

    5 hours ago
  • ミームコインの価格急騰が続く中、注目の仮想通貨プレセールが50万ドルを突破し、次の100倍コインになる可能性がある。

    ...

    11 hours ago
  • 仮想通貨おすすめ|ビットコイン強気派の一休み中に買うべき銘柄

    ...

    11 hours ago
  • 2025年注目の新しい仮想通貨|Solana発 次世代ミームコインが投資家の期待を集める

    2025年注目の新しい仮想通貨|Solana発...

    11 hours ago
  • 2025年7月第2週にクジラが購入した注目のアルトコイン

    ...

    12 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.