Goldman Sachs will host a conference call on May 27 titled US Economic Outlook & Implications of Current Policies for Inflation, Gold, and Bitcoin.
On May 23, Mike Dundas, founder of crypto media outlet The Block, posted a screenshot of the invitation for the call.
It’s happening.@GoldmanSachs: “Implications of Current Policies for Inflation, Gold and Bitcoin” pic.twitter.com/kjTGYSE9za — Mike Dudas (@mdudas) May 22, 2020
The event will be hosted by:
Sharmin Mossavar-Rahmani- CIO of Goldman’s Investment Strategy Group,
Jason Furman- Harvard economics professor
Jan Hatzius- Goldman Sachs’ chief economist
The news comes across as a milestone for the institutional adoption of crypto assets, appearing to signify a complete u-turn on the part of Goldman’s Mossovar-Rhami.
In August 2018 Mossovar-Rhami reportedly stated that cryptocurrencies fail as mediums of exchange, stores of value, and units of measurement.
Goldman Sachs’ conference call comes amid other signs that many top financial institutions is inclining towards crypto, with JPMorgan providing banking services to U.S. exchanges Coinbase and Gemini.
Moreover at the start of May, billionaire and hedge fund founder, Paul Tudor Jones, revealed purchasing Bitcoin as a hedge against money printing-induced inflation.
Jones revealed that his Tudor BVI hedge fund is hodling “a low single-digit percentage” of its total assets in BTC futures, stating:
“The best profit-maximizing strategy is to own the fastest horse […] If I am forced to forecast, my bet is it will be Bitcoin.”