Goldman Sachs analyzed Bitcoin
Goldman Sachs, one of the world’s largest commercial banks, has conducted an analysis of the virtual currency. The analysis data was published by the TechCrunch portal. According to the investment giant, the digital currency has many disadvantages, the main of which is the exchange rate volatility. At the same time, among the advantages of Bitcoin, Goldman Sachs analysts noted the ability of cryptocurrency to reduce the cost of microtransactions and ensure the anonymity and security of users when they get acquainted with the virtual currency market.
The result of the report was the conclusion that Bitcoin is not suitable for business and trade due to its high volatility. For the same shortcomings, by the way, Bitcoin was recently criticized by JPMorgan analysts. According to Goldman Sachs, the currency needs to achieve a higher level of liquidity. To date, there are still too many speculators in the virtual currency market.
Thus, the bank’s analysts came to the conclusion that Bitcoin lacks a number of characteristics that could attract investors. It was mentioned that virtual currency is not yet widespread enough and does not have global recognition. In turn, it is these factors – the improvement and expansion of the Bitcoin infrastructure – that could attract more investors in the future.