One of Bitcoin’s most vocal proponents and early adopters, Tyler Winklevoss, took the opportunity to comment on Goldman Sachs’ most recent conclusions on the cryptocurrency.‘Probably’ Rebranding to Goldman Stacking SatsAs CryptoPotato reported yesterday, the large multinational investment bank Goldman Sachs hosted a conference call talking about Bitcoin and other cryptocurrencies. Somewhat unsurprisingly, the report compared BTC’s price action to the infamous tulip mania, claiming that it’s not an asset class, among many other things.One of the people who commented on the matter was Tyler Winklevoss – a well-known Bitcoin proponent and an early adopter.He said that “the Goldman report is probably a head fake. Seems like something the vampire squid would do. They’re probably rebranding to
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One of Bitcoin’s most vocal proponents and early adopters, Tyler Winklevoss, took the opportunity to comment on Goldman Sachs’ most recent conclusions on the cryptocurrency.
‘Probably’ Rebranding to Goldman Stacking Sats
As CryptoPotato reported yesterday, the large multinational investment bank Goldman Sachs hosted a conference call talking about Bitcoin and other cryptocurrencies. Somewhat unsurprisingly, the report compared BTC’s price action to the infamous tulip mania, claiming that it’s not an asset class, among many other things.
One of the people who commented on the matter was Tyler Winklevoss – a well-known Bitcoin proponent and an early adopter.
He said that “the Goldman report is probably a head fake. Seems like something the vampire squid would do. They’re probably rebranding to “Goldman Stacking Sats” as we speak.”
The expert also reiterated that “comparing Bitcoin to tulips in 2020 betrays stupidity and represents opportunity.”
Being perhaps more expressive than the report itself, Winklevoss also said that “the quality of Goldman Sachs’ recent research on Bitcoin demonstrates that there has been a talent flippening. Today, Wall Street is where you end up when you can’t make it in crypto,” as opposed to how it used to be.
‘What Are You Smoking?”
One of the most questionable statements of the investment bank was that cryptocurrencies “as a whole are not a scarce resource.”
In a truly outstanding fashion, Winklevoss asked those who did the research what are they smoking, adding that he “thought Goldman was the bank on Wall Street for smart bankers.”
Goldman Sachs: Though individual cryptocurrencies have limited supplies, cryptocurrencies as a whole are not a scarce resource.
Me: What are you smoking? I thought Goldman was the bank on Wall Street for smart bankers.
— Tyler Winklevoss (@tylerwinklevoss) May 27, 2020
He also touched on the alleged illicit activities that Bitcoin was used to pay for in 2019, outlining the blatant double standards in the conclusions the research made.
Per the report, “In 2019, $2.8 billion in bitcoin was sent to currency exchanges from criminal entities.” To this, Winklevoss simply said that “$2.8 billion in illicit activity is a good DAY for the U.S. Dollar.”
Featured image courtesy of Forbes