Goldman Sachs’s investment management arm said that bitcoin’s astronomical rise over the past year “has pushed it into bubble territory.”
In a research letter to investors, the firm compared bitcoin’s meteoric rise to the renowned dot-com era of the late 1990s and the Dutch “Tulip Mania” of the 17th century.
French Finance Minister Bruno Le Maire has announced the formation of a group that will work towards regulating cryptocurrencies.
Le Maire announced the working group during an economics-focused speech on Monday. He appointed former Bank of France (BOF) deputy governor Jean-Pierre Landau as the leader of the new working group.
The official newspaper of the Chinese Communist Party, People’s Daily, has published an article calling bitcoin a bubble, comparing it to the Dutch Golden Age Tulip mania.
The People’s Daily is the biggest newspaper group in China. The paper is published worldwide with a circulation of three million.
