Fintech expert responds to Goldman Sachs’ Bitcoin scepticism

There are a number of cryptocurrencies that directly oppose Goldman Sachs' negative comments on Bitcoin last week, according to Two Prime CEO

Marc J.J. Fleury, the CEO of fintech company Two Prime, has responded to Goldman Sachs’ recent analysis of Bitcoin.

The multinational investment bank made a series of comments on the viability of Bitcoin as a potential investment.

It stated that it was still prone to uncertain market volatility, as demonstrated during the sell-off to $4,000 in March, while also adding that there was no evidence of it being a hedge to inflation.

The report was met with defensive anger and confusion across Bitcoin social media channels, with many alluding to JP Morgan’s infamous u-turn on Bitcoin.

Fleury took a more diplomatic approach, giving examples of how the report was wrong by listing how it can be a store of value.

“There are many forms of crypto — some of which are volatile, offering great upside potential (BTC, ETH); some are fully stable, offering downside protection (USDT); whereas others are balanced hybrids, offering both downside protection and upside potential (FF1 by Two Prime).” He said.

“As a store of value, cryptos have shined during the COVID-19 pandemic. With the ongoing monetary expansion, high net worth individuals and savers will be ill advised to ignore this numerus clausus asset class.”

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Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.

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