Goldman Sachs urges not to invest in bitcoin, and Beijing residents will be able to exchange cash for digital yuan at more than 3,000 ATMs

Goldman Sachs urges not to invest in bitcoin

Goldman Sachs analysts believe that investment in digital assets cannot be called “viable”, but cryptocurrencies are suitable for speculation in the market. The investment bank is confident that despite the increasing interest of people in digital currencies, investing in them is still risky.

Analysts at Goldman Sachs noted that serious fluctuations in the crypto market scare off potential investors. And the conflicting opinions of industry participants about cryptocurrencies simply confuse many Goldman Sachs clients interested in acquiring such assets.

“As Bitcoin soared to new highs over the past year, many wondered if they should invest in it. Now, a team at Goldman Sachs is telling retail investors that the digital currency isn’t worthy of most portfolios — at least not yet, ”the analysts of the investment bank are sure.

Beijing residents will be able to exchange cash for digital yuan at more than 3,000 ATMs

The Metropolitan Branch of the Industrial and Commercial Bank of China has added the function of converting the yuan to and from the digital version. This opportunity can now be used in more than 3,000 ATMs.

In addition, the Agricultural Bank of China has added a similar option. So far, it is available only on 10 devices located in Beijing.

The initiative of the capital branches of banks indicates that the development and testing of the digital yuan is underway. Earlier, several Chinese cities tested the state cryptocurrency, when citizens received digital yuan to make purchases.

--

--

--

www.bestchange.com

Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

Chaos Before the Calm

Reflections from the Inaugural Staking Summit

Bitcoin Keeps the Faith as a Long-Term Investment

How to buy Verge (XVG)

Decentraland Metaverse Asset Investment Strategies

SigOne Capital, an Institutional Broker & Trading Desk for Digital Assets, Announces it is Being…

Beaxy Exchange Community Newsletter: April 2020

Velox Brings Decentralized High Frequency Trading to Avalanche

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
BestChange

BestChange

www.bestchange.com

More from Medium

The Silent source of Inflation — Banks

Crypto series — the evolution of paper money & central bank

Tokenized ETF startup revolutionizes blockchain-traded fund management

Kelly Criterion Performance — Distressed Entity