news

bitcoin

1 X bitcoin bitcoin =

Sunday

09 May 2021

Goldman Sachs Doubts Bitcoin as Store of Value Citing Environmental Problems and 'Lack of Real Use' – Markets and Prices Bitcoin News

Goldman Sachs Doubts Bitcoin as Store of Value Citing Environmental Problems and 'Lack of Real Use' – Markets and Prices Bitcoin News


smart summary beta

Goldman Sachs Doubts Bitcoin as Store of Value Citing Environmental Problems and 'Lack of Real Use' – Markets and Prices Bitcoin News.

Global investment bank Goldman Sachs is questioning whether bitcoin can be a long-term store of value and digital gold.

Goldman Sachs published a note outlining some problems with bitcoin as digital gold on Wednesday.

The analysts explained: “While bitcoin benefits from greater liquidity, it suffers from lack of real use and weak environmental, social, governance ESG scoring, due to its high energy consumption.” They also cited competition from other cryptocurrencies as a factor stopping bitcoin from becoming digital gold, elaborating:.

This, in our view, underscores the fact that competition among cryptocurrencies for the status of dominant long-term store of value is still on and adds additional source of risk to holding bitcoin.”.

Goto Full Article

bitcoin bitcoin price

$57924.00

24h

Live Average

bitcoin

News Article Sentiment

negative

Score (-0.3)

Article Metadata

author

site

bitcoin.com
Market data feeds provided by cryptocompare.com
bitsmart 2021