'What Are You Smoking?' Winklevoss Pans Goldman Sachs Bitcoin Bashing

Bitcoin supporters have widely panned Goldman Sachs after it emerged that the banking giant does not consider it as a real asset class.

The main reason for the continued lack of attention, Goldman says, is that Bitcoin does not generate revenue flows for holders, for example, in the same way that stocks and bonds do.

Just last week, wealth manager Peter Mallouk told CNBC that despite its recent returns, there was "No need" for any investors to buy Bitcoin.

Goldman's tone meanwhile riled some of the best-known figures in the Bitcoin industry and beyond.

"Goldman Sachs does not make fees when a client buys #bitcoin. Buying Btc is an implicit rejection of buying assets that Goldman Sachs sells upon which they make fees," he wrote on Twitter.

Long PTJ/Short GS EVERY TIME. Gemini exchange co-founder Tyler Winklevoss meanwhile argued that the attention being paid to Bitcoin suggested a longer-term shift was underway.

The quality of Goldman Sachs' recent research on #Bitcoin demonstrates that there has been a talent flippening.

In another post, Winklevoss took issue with Goldman's understanding.

"Me: What are you smoking? I thought Goldman was the bank on Wall Street for smart bankers," he wrote.

Others simply reiterated that Bitcoin was immune to naysayers, as evidenced in recent years by high-profile criticism impacting the price less and less.