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Goldman Sachs is expressed again to bit coin & Blockchain

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that has Goldman Sachs business for private wealth management recently a Outlook for their customers published, in the little positive to find the topic of Kryptowährungen and Bitcoin is. But whether in all departments of the US Bank is thought so, unclear.

The investment strategists write in their Outlook: “There is no doubt that the rise of the Bitcoin course has pushed him into the bladder area.” The meteoric rise in prices make even the price increases in a short time during the dotcom bubble in the shadow. This also applies to other Kryptowährungen the Outlook according to.

The Goldman Sachs strategists come to this conclusion by comparing the rates of Bitcoin and ether with the price history of the S & P 500, NASDAQ and Topix indices around their highs – and with the price developments during the Dutch Tulip mania of the 17th century. The result: The price movement of the Bitcoin implies dwarfism shares – as well as Tulip bubble, this picture is much more pronounced in the ether.

The team of “ investment strategy group” to Chief Investment Officer Sharmin Mossavar-Rahmani and head of tactical asset allocation Board Nelson continues to write:

“even though we do not know whether Bitcoin or any other Kryptowährung” the current prices of double or triple, we believe that these Kryptowährungen will retain their value in its present form in the long term.”

It continues the concept of a digital currency on the basis of Blockchain technology was quite usable – given the advantages that can bring it about world’s simplified versions, lower transaction costs, less corruption by the Traceability of all transactions and the security of property. However, the authors write: “The Bitcoin does not offer these key benefits.” On the contrary, the designs would not facilitate, the settlement takes often up to ten days, and end of 2017 the price difference for a Bitcoin between 17 U.S. trading venues have be lace up to 31 percent in the. Transaction costs were shot into the air, and frequent hacker attacks had wiped out the Bitcoin stocks of individual wallets and all exchanges.

The Goldman Sachs strategists believe that a Bitcoin collapse would have severe contagion effects on the world economy or the financial markets. They point out that at the height of the dot-com bubble in March 2000 the combined market capitalization of the NASDAQ index and the IT shares – tieing index 101% of the US gross domestic product (GDP) in the S & P 500 and 31% of global GDP. The market capitalisation of Kryptowährungen worldwide lie, however, only 3.2% of US GDP and 0.8% of GDP. Since trade and possession of Kryptowährungen concentrated more in Asia than in the United States, the global GDP is the appropriate point of reference.

The skeptical assessments of’s investment strategy group private wealth management at Goldman Sachs should reflect the opinion of the entire Bank, stated in the quoted here. Only in the December 2017 media reports had can sit up, which Goldman Sachs a trading area for Kryptowährungen in New York wants to set up as the first big Wall Street institution, according to the financial news agency Bloomberg until end of June 2018 at the start could go. Goldman Sachs had neither confirmed nor denied these reports.


about Gregor Hallmann

 Gregory Hackett is Gregor Hallmann business journalist for 20 years. As editor of a news agency close pursued the political scientist studied around the turn of the Millennium the Internet boom and following the dot-com bubble burst. Since then, he writes critically about economics, finance and investment – as a freelance journalist and has also Kryptowährungen and Blockchain in sight.

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