Goldman Sachs’s Rahmani Strikes Warning Over Bitcoin Value
- Price swings make Bitcoin ‘not a real unit of value,’ she says
- Investment strategy head says blockchain ‘is here to stay’
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The wild swings in the price of Bitcoin prove it’s not a real unit of value, though blockchain technology “is here to stay,” according to Goldman Sachs Group Inc.’s Sharmin Mossavar-Rahmani.
“Something with a long-term volatility of 80% can’t be considered a medium of exchange,” said Rahmani, head of the investment-strategy group for the bank’s consumer and investment-management division.