Goldman Sachs’ latest client conference call will include a subject that Wall Street has either long derided or shrugged off: Bitcoin.
Per an invitation to investors, the investment bank is holding a client call on “US Economic Outlook & “Implications of Current Policies for Inflation, Gold and Bitcoin.” The conference call, set for May 27 at 10:30am EST, is the fifteenth in a series on macro economic and financial trends.
Sharmin Mossavar-Rhami, a Chief Investment Officer at Goldman, will host the call alongside Jason Furman, an economics professor at the Harvard Kennedy Business school and Jan Hatzius, a Chief Economist and Head of Global Research at Goldman Sachs.
In 2018, Mossavar-Rhami said that he saw no value in Bitcoin or other cryptocurrencies.
The invitation did not reveal any further information on the contents of the call outside of the headline. Per this title, though, the call’s ostensible aim is to discuss how current central bank policy and the risk of monetary inflation could impact assets like Bitcoin and gold. In 2020, the Federal Reserve has printed over $3 trillion through a mixture of QE and fiscal programs like the Cares Act, expanding its balance sheet nearly two fold in the first quarter of the new decade alone. (Other central banks around the world are taking similar actions). This backdrop, hard money advocates argue, has set the stage for inflation; a climate that scarce assets like bitcoin and gold should thrive in.
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