Goldman & Sachs are at it again. They just love bashing anything that doesn't seem to fit into their economic model of "make the rich richer and the poor poorer".
"Our view that cryptocurrencies would not retain value in their current incarnation remains intact and, in fact, has been borne out much sooner than we expected," the team lead by chief investment officer Sharmin Mossavar-Rahamani said.
"We expect further declines in the future given our view that these cryptocurrencies do not fulfill any of the three traditional roles of a currency: they are neither a medium of exchange, nor a unit of measurement, nor a store of value."
https://www.zerohedge.com/news/2018-08-04/bitcoin-battered-back-below-7000-goldman-expects-further-declinesBut there is some good news at least on the Starbucks front:
“As the flagship retailer, Starbucks will play a pivotal role in developing practical, trusted and regulated applications for consumers to convert their digital assets into US dollars for use at Starbucks. As a leader in Mobile Pay to our more than 15 million Starbucks Rewards members, Starbucks is committed to innovation for expanding payment options for our customers.”
