The high volatility of Bitcoin does not allow it to become a means of payment and makes it unsuitable for storing money, according to the Goldman Sachs investment bank, Bloomberg reports.
“An ephemeral currency with long-term volatility of 80 percent cannot be regarded as a means of payment,” stated Sharmina Mossavar-Rahmani, head of the investment and strategic group Goldman Sachs. She added that, despite widespread discussion in the media and active investments, cryptocurrency is not suitable for storing savings.
Tesla founder Elon Musk has a different point of view: he believes that the most popular cryptocurrency will soon be widely recognized in the world of traditional finance. “At the moment, I think bitcoin is good. I have no clear opinion about other cryptocurrencies,” said the billionaire
Analysts of the Luno crypto exchange and the OSK brokerage company predict bitcoin growth to $ 50 thousand. In their opinion, in the next 3-10 years, the popularity of bitcoin may grow, while gold, on the contrary, risks not being liked by investors. Over the past year, the cryptocurrency has quadrupled in price and by the beginning of January 2021 almost broke the 42 thousand dollar mark. Then the bitcoin price corrected and lost about 10 thousand dollars.