One of the largest American banks, Goldman Sachs, has published a research report claiming that Bitcoin Bubble is bigger than the Dutch tulip mania. What are other Goldman Sachs Bitcoin Bubble Warning Details?
Goldman Sachs has stated that Bitcoin is a bubble that is larger than the Dutch tulipemania and dot-com era. The bank has published a research letter in which it has warned of the rise in crypto prices.
Goldman Sachs Bitcoin Bubble Warning
“We think the concept of a digital currency that leverages blockchain technology is viable given the benefits it could provide: ease of execution globally, lower transaction costs, reduction of corruption since all transactions could be traced, the safety of ownership, and so on. But bitcoin does not provide any of these key advantages.”
The Goldman Sachs Bitcoin Bubble warning report also stresses another issue of this cryptocurrency. The analysts talk about the high transaction costs. In spite of the inflation of Bitcoin and altcoins, there is no risk that they will be affecting the US or any other global economy.
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