Goldman Sachs CIO says crypto isn’t ‘an investment asset class’, Cathie Wood pushes back

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The Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.

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She also holds a negative view of cryptos due to their use in various crimes, such as ransomware attacks, saying “The rule of law and systems of checks and balances matter.” Despite her disdain for cryptocurrencies, Mossavar-Rahmani said she sees promise in the underlying blockchain technology and thinks the movement to tokenize real assets will lead to a more efficient financial system.

Wood described BTC as both a risk-on and risk-off investment and said that while institutions are finally getting in on the Bitcoin action, average investors are being presented with an even more important opportunity. Briefly touching on the U.S. regional banking crisis that occurred in early 2023 and the Greek financial crisis of 2013, Wood concluded that Bitcoin now serves as “an insurance policy against rogue regimes or against just horrible fiscal and monetary policies.”

 

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