The head of the investment division of Goldman Sachs, Sharmin Mossavar-Rahmani, believes that cryptocurrencies have no value, so the bank’s clients are not interested in them.
In an interview with the Wall Street Journal, Sharmin Mossavar-Rahmani said that Goldman Sachs clients showed little interest in Bitcoin even after its value exceeded $70,000. She added that cryptocurrencies have no practical value for market:
Mossavar-Rahmani cited the difficulty of proper valuation as the main reason for the lack of interest in virtual assets. She emphasized that despite the fact that the crypto community calls for democratization of the global financial system, in the crypto industry itself, only a few participants make the main decisions.
At the same time, the top manager of Goldman Sachs noted that blockchain technology has certain potential, and it can become a useful tool for financial institutions.
Earlier, the head of the digital assets department at Goldman Sachs, Matthew McDermott, stated the need for an integrated approach to assessing the impact of price drivers of growth and decline in the value of the flagship cryptocurrency.
Source: Cryptocurrency
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