“Bitcoin does not create any value” says Mossavar-Rahmani, the iron lady of Goldman Sachs

Despite the current euphoria around bitcoin, Mossavar-Rahmani, head of investment at Goldman Sachs for 23 years, remains firm in his positions.

Goldman Sachs sows doubt about cryptocurrencies. “We don’t think it’s an investment asset class,” Mossavar-Rahmani, chief investment officer at Goldman Sachs, told the Wall Street Journal. Arriving at Goldman Sachs 23 years ago, she is one of the most influential voices in the bank. “When Sharmin speaks, people listen,” says Michael Swell, a former Goldman partner.

While several financial giants, including Blackrock, launched their spot bitcoin ETF in mid-January, the bank Goldman Sachs remains more cautious. Despite the rise in bitcoin, which exceeded $73,000 in mid-Marchthe queen of cryptocurrencies “creates absolutely no value in any form whatsoever,” believes Mossavar-Rahmani.

“No value”

His view is categorical: “we don’t believe in cryptocurrencies.” To justify this, the investment manager clarifies that cryptocurrencies do not offer profits, cash flow or dividends to investors. They would therefore be of no interest to the American bank’s customers.

Mossavar-Rahmani is, however, not closed on the subject of the tokenization of financial assets, a subject today taken by storm by several financial giants. However, Goldman Sachs risks missing the boat: Blackrock, Fidelity and even Citigroup have already launched into this niche.