Goldman Sachs CIO: Crypto Is Not an Investment Asset Class

[TomPluz]

The chief investment officer of Goldman Sachs’ Wealth Management unit does not see cryptocurrency as an investment asset class. She also believes that bitcoin “creates absolutely no value in any shape or form.” Her perspective differs from that of some other Goldman Sachs executives regarding bitcoin and cryptocurrencies.

The chief investment officer of Goldman Sachs’ wealth management unit, Sharmin Mossavar-Rahmani, discussed her perspective on bitcoin and other cryptocurrencies in a Wall Street Journal interview last week. Mossavar-Rahmani has served as the chief investment officer of Goldman Sachs Wealth Management for the past 23 years.

She compared the recent crypto enthusiasm to the tulip mania of the 1600s, dismissing it as nothing more than a means of speculation.

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What do you think about Goldman Sachs’ Sharmin Mossavar-Rahmani stating that crypto is not an investment asset class and that bitcoin has no value? Seems to me that even in a big financial institution like Goldman Sachs which is already adding the business of cryptocurrency into its mix of services, we can still find "dinosaur" people who are adamant in their position on cryptocurrency or Bitcoin for that matter. I guess we could not blame them as they can have a hard time grasping the idea of something that can't be seen, heard, touch and is generated via computing power can be as valuable as it is today.

[Charles-Tim]

What do you think about Goldman Sachs’ Sharmin Mossavar-Rahmani stating that crypto is not an investment asset class and that bitcoin has no value?

This is how these people prefer to be misleading people. She said she believes that bitcoin creates absolutely no value in any shape or form. This woman is funny. Is the love, the happiness and his emotions physical? But are they not real? This world was not created in a way that all created will be physical. What that is important is that bitcoin has value and its market worth today is more than $1.3 trillion.

[SamReomo]

Goldman Sachs’ Sharmin Mossavar-Rahmani share her opinion that we crypto investors don't accept at all. She's not sure that what she's saying and her limited knowledge isn't allowing her to see the world of crypto-currencies and crypto market.

She's someone with limited knowledge about crypto-currencies and crypto market and thus we should not care much about her opinion regarding crypto. Surely, one day she will admit that she was wrong but for now let her say whatever she wants to say.

[Tribalchief]

What do you think about Goldman Sachs’ Sharmin Mossavar-Rahmani stating that crypto is not an investment asset class and that bitcoin has no value?

In cases like this, we shouldn't blame Mossavar-Rahmani for being too skeptical about what cryptocurrency truly stands for and offers in the world of finance. We might not be too sure, because skeptical people sometimes have their own way of misleading others by lying to them about something important such as this. Even Goldman Sachs as a company associates itself with cryptocurrency, but it's still surprising that someone who works for them is not seeing a reason why they should.

I read through the entire story in which I also came across several funny explanations that were given, though some were valid. I am still quite shocked to see someone give credit to the government and traditional financial institutions after the 2008/09 incident. Besides, how is it even possible for someone not to see cryptocurrency(Bitcoin and few altcoin) as an investment class when the world is currently craving for it? Mossavar-Rahmani is definitely part of those who would later admit what cryptocurrencies truly stand for in our community, and again, let's not be carried away by too much talk.

[Jating]

What do you think about Goldman Sachs’ Sharmin Mossavar-Rahmani stating that crypto is not an investment asset class and that bitcoin has no value?

In cases like this, we shouldn't blame Mossavar-Rahmani for being too skeptical about what cryptocurrency truly stands for and offers in the world of finance. We might not be too sure, because skeptical people sometimes have their own way of misleading others by lying to them about something important such as this. Even Goldman Sachs as a company associates itself with cryptocurrency, but it's still surprising that someone who works for them is not seeing a reason why they should.

I read through the entire story in which I also came across several funny explanations that were given, though some were valid. I am still quite shocked to see someone give credit to the government and traditional financial institutions after the 2008/09 incident. Besides, how is it even possible for someone not to see cryptocurrency(Bitcoin and few altcoin) as an investment class when the world is currently craving for it? Mossavar-Rahmani is definitely part of those who would later admit what cryptocurrencies truly stand for in our community, and again, let's not be carried away by too much talk.

It's that some of the individuals in the banking system still didn't see what crypto can bring. So even if they are going to deny it with this kind of statements, the more people will be interested on crypto in my opinion. And again, the list of Warren Buffett didn't deter crypto or Bitcoin when he says that is a poison and yet this 2024, we reaches new all time high and we will have one of the most anticipated event which is the block halving. And if by this year when the price hits $100k and people are getting rich and still she didn't find crypto as a investment vehicle, then I would stay away for this CIO because obviously she is very ignorant of crypto and they may be left out of the closet as there could be banks who secretly invested on Bitcoin.

[Lucius]

Maybe she just hangs out too much with people like Warren Buffett or Jamie Dimon? While the former has always been extremely negative towards Bitcoin, the latter has often changed his mind, while at the same time the bank of which he is the CEO goes into business directly related to Bitcoin without any reservations.

The lady in question can have any opinion about Bitcoin and that is something that should not worry us too much, because the strength of Bitcoin is precisely that it does not depend on the opinion of one person or one bank/company. When one of these people talks about Bitcoin in this way, it's just a sign to me that they are more afraid of the same thing than that they don't understand what they're actually talking about.

[hugeblack]

Some people have certain definitions according to the economic school they come from, and these definitions are so rigid that when you apply them to something like Bitcoin, which has risen by more than 1000% in 13 years, you will find that it is natural to say that Bitcoin is a fraud or a Ponzi scheme, which is not the case.

[Charles-Tim]

She's someone with limited knowledge about crypto-currencies and crypto market and thus we should not care much about her opinion regarding crypto. Surely, one day she will admit that she was wrong but for now let her say whatever she wants to say.

Some people have knowledge about bitcoin and other cryptocurrencies, but they just want to be critic and remain at one side. I believe people like Peter Sheriff and even this woman know much about bitcoin and other cryptocurrencies but people like Peter Sheriff just prefer to make his words to let people turn to gold investment. Some people do the critics for their own favour and not for the interest of people. I have noticed many people are just like that. So could be this woman.