Goldman continued to do what Goldman does...

The much awaited Goldman Investor Call was today and it didn't do what many people thought it might...

Over the past several days there had been some hype leading up into this latest investor call by Goldman due to the fact they specifically said they were going to be talking about bitcoin in this post covid-19 environment.

Most people thought that meant they were going to endorse bitcoin like several other big time Wall Street heavyweights have recently...

See here:

But alas, the opposite happened...

In usual Goldman and Wall Street fashion, they used this opportunity to give ol bitcoin the middle finger.

Can you spot the exact moment on the chart this investor call was released?

(Source: https://twitter.com/DaveCryptos/status/1265712483240722434)

The middle finger symbol there on the chart can help you out if you can't tell by the price action.

The interesting thing is how bitcoin reacted not long after...

Doing a nice vertical climb just as Goldman told clients it's not investable.

The funny thing is that Goldman said not to invest in bitcoin because it doesn't generate cash flows, but neither do several assets that Goldman pushes.

Gold has been considered a stalwart of well diversified portfolios for decades upon decades and it doesn't generate any cash flows.

Apparently I wasn't the only one that thought their rational for not investing in bitcoin was pretty lame...

(Source: https://twitter.com/winklevoss/status/1265638690287759363)

Our good friends at Gemini have our back always.

Oh well, I guess given Goldman's long history of bitcoin and crypto aversion, I guess this shouldn't have come as a surprise.

Was hoping for an endorsement never the less.

Stay informed my friends.

-Doc