While some of the top Wall Street players have joined the crypto bandwagon, banking giant Goldman Sachs prefers to look the other way around. Sharmin Mossavar-Rahmani, chief investment officer of the bank’s Wealth Management unit, shared her negative stance on the crypto space.
Crypto Isn’t An Investment Asset Class
Sharmin has been a long-time critic of cryptocurrencies and his stand remains the same despite the strong institutional demand for the asset class. In fact, she doesn’t consider crypto to be an investment asset class in the first place. In her interview with the Wall Street Journal, Sharmin said:
“We do not think it is an investment asset class. We’re not believers in crypto.”
On the other hand, Goldman Sachs competitors in traditional finance – BlackRock and Fidelity – have doubled down their efforts after most clients showed interest in Bitcoin. However, Sharmin stated that there’s no such demand from the clients of Goldman Sachs.
She points out that one
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