Goldman Sachs Invites Investors to Talk About Bitcoin (BTC), Gold and Inflation – As Feds Balance Sheet Tops $7 Trillion

Saturday 23 May 2020, 6:39 AM AEST - 3 months ago

Bitcoin and cryptocurrency will be front and center in an upcoming client call hosted by investment banking giant Goldman Sachs. Scheduled for Wednesday, May 27th, the conference call, dubbed the US Economic Outlook & Implications of Current Policies for Inflation, Gold and Bitcoin, will focus on macro economic trends and how they impact financial markets.

On Thursday, the Federal Reserve announced a record-breaking balance sheet of $7.09 trillion for the week ending May 20, up from $6.98 trillion the previous week. The changing economic winds have painted a dramatic landscape with seemingly limitless money printing that has caused institutional investors to turn increasingly to gold while also investigating the emergence of Bitcoin.

US Federal Reserve Chairman Jerome Powell has already warned that upcoming economic data for the second quarter will be the worst the country has ever seen. But in a recent 60 Minutes interview, Powell also spoke about the Feds broad powers to push back against the brutal tide that has wiped out jobs and threatened equities amid the pandemic.

According to Powell,

There is a lot more we can do. Were not out of ammunition by a long shot. No – theres really no limit to what we can do with these lending programs that we have.

Extreme monetary policy by central banks has set the stage for Goldman Sachs to discuss quantitative easing, the risk of monetary inflation and how the global economy is positioning assets like Bitcoin and gold.

While gold has increased in value since the spread of the coronavirus – with analysts predicting that the asset may hit a record high by the end of the year – Grayscale, one of the leading digital currency asset managers, points to a changing outlook on Bitcoin.

BTC got a major boost from Paul Tudor Jones, a leading hedge fund manager, who revealed earlier this month that he has a firm crypto i ...

Read full story on The Daily Hodl