Coinbase Investor and Fundstrat Analyst Explain Why Goldman Sachs Is Incorrectly Assessing Bitcoin

A leaked slide from a client meeting shows Goldman Sachs does not believe Bitcoin is an asset class.

Coinbase angel investor Seth Ginns and Fundstrat analyst David Grider explain why Goldman continues to hold this antiquated position.

Ginns and Grider joined Cointelegraph's weekly Crypto Live Show to bring an investor's perspective to the usual trader-heavy lineup.

Cointelegraph's Crypto Markets Live broadcasts every week on Thursday afternoons eastern time.

Goldman Sachs Leaks its Position on BitcoinCointelegraph reported that in a May 27 call discussing the state of the U.S. economy, Goldman Sachs appeared to discourage clients from investing in Bitcoin.

When asked whether they supported Bloomberg or Goldman's perspective, both Ginns and Grider sided against Goldman.

"One of the interesting takedowns of crypto that we've seen - we saw it yesterday - was the idea that a lot of crypto is used for illicit purposes, and I found it really funny So I thought that was a really good indicator of how stale that type of argument is as a takedown on crypto."

"Goldman - they're obviously smart folks, very, very smart folks, some of the smartest folks on Wall Street.

Grider goes on to explain why he thinks Goldman's stance is due in part to political motivations.

To hear the full explanation, check out Cointelegraph's May 28 Crypto Markets Live stream in the video above.