A Goldman Sachs cryptocurrency report angered true fans | Currency News | Financial and Business News | Markets Insider

On Wednesday, the bank released a report that outlined, drawing the ire of those that support the digital currency.

"We believe that a security whose appreciation is primarily dependent on whether someone else is willing to pay a higher price for it is not a suitable investment for our clients," said Goldman. The bank also called out cryptocurrency's popularity with hedge funds, saying"while hedge funds may find trading cryptocurrencies appealing because of their high volatility, that allure does not constitute a viable investment rationale."

It didn't sit well with supporters of cryptocurrency. The Winklevoss twins, who co-founded Gemini, a cryptocurrency exchange platform, responded with vocal backlash to the report.

BREAKING: Analyst from “the man” angers people who are mad at “the man” 🤷‍♂️

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