Goldman Sachs tells investors why Bitcoin is not considered as an asset class. The investment bank singles out dangerous hacks, illicit activities, and volatility as some of the reasons. The largest investment bank in the United States does not believe Bitcoin to be an asset class. According to Forexlive, a financial news outlet, Goldman Sachs presented several reasons the institution is making this stand regarding Bitcoin. The leaked slides of the presentation to investors reckons that the danger of hacks, extensive losses surrounding cryptocurrencies and the numerous illicit activities are the reasons behind the bank’s decision. Other comments Goldman Sachs said in regard to digital currencies are the inherent lack of cash flow, their inability to generate earnings as well as volatility. The above reasons behind the sentencing of Bitcoin as “not an asset class” are not new. Besides, some would argue that the ongoing COVID-19 pandemic has proved that any market can be volatile. The stock market in the US plunged massively in March. The same market is doing relatively well now after the government took measures to ensure that damage to the economy is controlled. Bitcoin on the other hand, did not need anybody to recovery from the March 12 dip to $3,800. Bitcoin is trading slightly below $9,200 at the time of writing. This follows a recovery from the support at $8,800. The market is expected to continue with the upside action towards $10,000 as long as BTC/USD can hold support above $9,200. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next Ex-RBI Governor: India’s economy likely to contract 5% in FY21, USD/INR eyes 76.00 FX Street 3 years Goldman Sachs tells investors why Bitcoin is not considered as an asset class. The investment bank singles out dangerous hacks, illicit activities, and volatility as some of the reasons. The largest investment bank in the United States does not believe Bitcoin to be an asset class. According to Forexlive, a financial news outlet, Goldman Sachs presented several reasons the institution is making this stand regarding Bitcoin. The leaked slides of the presentation to investors reckons that the danger of hacks, extensive losses surrounding cryptocurrencies and the numerous illicit activities are the reasons behind the bank’s decision. Other comments Goldman Sachs… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.