Bitwise CIO Matt Hougan explained what makes Bitcoin valuable on Wednesday after a recently interviewed Goldman Sachs executive struggled to find the answer.
Sharmin Mossavar-Rahmani – chief investment officer of the bank’s Wealth Management unit – said she still isn’t a “believer in crypto” even after the launch of Bitcoin spot ETFs in January.
Why Goldman Sachs Stil Rejects Crypto
According to the Wall Street Journal, the executive claims it’s hard to assign any value to Bitcoin given that it lacks any intrinsic dividends, cash flows, or earnings.
“We do not think it is an investment asset class,” she said. “We’re not believers in crypto.”
Sharmin’s view echoes that of other crypto skeptics like Warren Buffett, as well as those at Vanguard, who have denied their clients access to several Bitcoin spot ETFs launched in January.
The largest of those ETFs were launched by competitors BlackRock and Fidelity, which have grown far more bullish on Bitcoin as “digi
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