Goldman continued to do what Goldman does...
The much awaited Goldman Investor Call was today and it didn't do what many people thought it might...
Over the past several days there had been some hype leading up into this latest investor call by Goldman due to the fact they specifically said they were going to be talking about bitcoin in this post covid-19 environment.
Most people thought that meant they were going to endorse bitcoin like several other big time Wall Street heavyweights have recently...
See here:
But alas, the opposite happened...
In usual Goldman and Wall Street fashion, they used this opportunity to give ol bitcoin the middle finger.
Can you spot the exact moment on the chart this investor call was released?
(Source: ~~~ embed:1265712483240722434) twitter metadata:RGF2ZUNyeXB0b3N8fGh0dHBzOi8vdHdpdHRlci5jb20vRGF2ZUNyeXB0b3Mvc3RhdHVzLzEyNjU3MTI0ODMyNDA3MjI0MzQpfA== ~~~
The middle finger symbol there on the chart can help you out if you can't tell by the price action.
The interesting thing is how bitcoin reacted not long after...
Doing a nice vertical climb just as Goldman told clients it's not investable.
The funny thing is that Goldman said not to invest in bitcoin because it doesn't generate cash flows, but neither do several assets that Goldman pushes.
Gold has been considered a stalwart of well diversified portfolios for decades upon decades and it doesn't generate any cash flows.
Apparently I wasn't the only one that thought their rational for not investing in bitcoin was pretty lame...
(Source: ~~~ embed:1265638690287759363) twitter metadata:d2lua2xldm9zc3x8aHR0cHM6Ly90d2l0dGVyLmNvbS93aW5rbGV2b3NzL3N0YXR1cy8xMjY1NjM4NjkwMjg3NzU5MzYzKXw= ~~~
Our good friends at Gemini have our back always.
Oh well, I guess given Goldman's long history of bitcoin and crypto aversion, I guess this shouldn't have come as a surprise.
Was hoping for an endorsement never the less.
Stay informed my friends.
-Doc
they will pile in when BTC is at 50k and push it even higher... keep on stacking
It's possible they will come over eventually, but those reasons for not investing won't change no matter the price, so they will have to do some flip flopping on those if they do come over.
well look at how jamie is flipping and flopping but he is still banking coinbase
They're way better out of the bussiness, Goldman Sach are the worst scammers one could imagine, they will realize of their mistake when Bitcoin shows his own middle finger at 100000$.
Well at least if they were in it, they would have the incentive to push the price up. :)
hahahhahhha! their voice is like gold for us bitcoiners
I would have loved to hear them endorse it personally...
I found Goldman's advisory here on Twitter about Bitcoin, and the immediate reactions were just to die for 😆. It shot way past $9k after that went out, and I think it settled near $9.6k just about now. With more big banks like Deutsche Bank, and even JP Morgan are now slowly embracing BTC, it's a seemingly backwards step for what was once Wall Street's smartest bank to go against Bitcoin.
That said, I do believe a huge load of BTC futures contracts are set to expire in a few hours from now. So, we could be in for a wild ride.