Goldman Sachs to Host a Call Regarding Inflation and Bitcoin
Summary
- Goldman Sachs will host a call regarding inflation and Bitcoin next week.
- Wall Street takes a sudden interest in the popular digital asset.
Goldman Sachs, one of the world’s largest investment banking companies, will discuss a contested topic on Wall Street: Bitcoin.
According to Mike Dudas, Goldman Sachs has sent an invitation to clients inviting them for a call regarding inflation and Bitcoin.
Scheduled for Wednesday next week at 10:30 AM EST, the call will be hosted by Chief Investment Officer at Goldman Sachs, Sharmin Mossavar-Rahmani. Mossavar-Rahmani will also be joined by Jason Furman, a professor at Harvard Kennedy School, and Jan Hatzius, Chief Economist and Head of Global Investment Research.
The rise in Wall Street interest in Bitcoin has surged in 2020. A few weeks ago, renowned billionaire hedge fund investor Paul Tudor Jones talked about Bitcoin and its potential in an inflationary economy.
U.S Federal Reserve Balance Sheet Approaches $7 Trillion
The Goldman Sachs call featuring Bitcoin comes as concerns over the economic outlook due to coronavirus arise. With the Federal Reserve balance sheet surging due to quantitative easing, value proposition for non-inflationary assets like gold and Bitcoin rises.
Furthermore, Jerome Powell, Chair of the Federal Reserve, has noted that the Federal Reserve has not reached its limit. As a result, concerns over the rising balance sheet give way to Bitcoin’s rise as a hedge against hyperinflation.
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