From Cointelegraph
The chief investment officer (CIO) of the Investment Strategy Group at Goldman Sachs, Sharmin Mossavar-Rahmani, said in an interview with Business Insider on Feb. 27 that cryptocurrencies are in a bubble, which, when it bursts, will impact only 1 percent of global GDP.Read more: https://cointelegraph.com/news/goldman-sachs-investment-chief-crypto-bubble-burst-will-affect-1-of-global-gdpMossavar-Rahmani, who guides investment strategy for clients with over $10 mln in assets, said that cryptocurrencies are “the hot topic” among her clients and colleagues. She said that Goldman Sachs acknowledges the opportunities that can be brought by Blockchain technology to many fintech companies, but cryptocurrencies “in their current format” are “in a bubble.”
In the interview, Mossavar-Rahmani referenced data from a public report by Goldman Sachs’ Investment Strategy Group, comparing price trends of Bitcoin (BTC) and Ethereum (ETH) with equity bubbles of the past like the TOPIX in 1990, and Nasdaq in 2000.
Mossavar-Rahmani argues that TOPIX and Nasdaq look “like a flat line” compared to crypto, and even compared to the infamous Tulip bubble in the early 1600s, Bitcoin’s price is too high. Mossavar-Rahmani added that the Ethereum price is “is even more astronomical,” as the bubble on the graph far outstrips even that of Bitcoin.
Well if Goldman is saying that publicly they are probably the ones that recently bought up $400 million worth of bitcoin. We know for a fact that Goldman has lied and given investment publicly and to their clients while doing the exact opposite themselves. I don't doubt for a second these guys are loading up on crypto right now.
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