Goldman Sachs Official: Cryptocurrencies in ‘Current Format’ Are in a Bubble

Sharmin Mossavar-Rahmani is CIO of the Private Wealth Management Group at Goldman Sachs and responsible for guiding millions of dollars of fiat investments. According to the transcript of an interview, cryptocurrencies have been a hot topic for the firm with investors highly keen to learn more about them and the blockchain technology they utilize. Whilst the company recognizes the potential of blockchain technology, the firm is not surprisingly bearish regarding the fully decentralized currencies that currently exist.

“Our view is that while we like the concept of blockchain, and think it will evolve into a useful tool for companies, for the financial industry, we think cryptocurrencies in their current format, meaning that in the current incarnation, are in a bubble.”