Tech News, Magazine & Review WordPress Theme 2017
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
The Daily Hodl
No Result
View All Result

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

by Daily Hodl Staff
May 22, 2020
in Bitcoin
[the_ad id="93550"]

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 Fed’s 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. We’re not out of ammunition by a long shot. No – there’s 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 investment strategy in place, allocating 1-2% of his assets in Bitcoin.

Reports Grayscale in a newsletter to investors,

“Jones emphasized Bitcoin as a portfolio hedging tool to combat the rapid expansion of the Fed’s balance sheet and untenable global debt levels. In fact, in sharing his conviction in Bitcoin, Jones also explored various assets to combat inflation, including gold, equities, treasuries, commodities, and currencies. In his note, Jones succinctly stated, ‘If I am forced to forecast, my bet is [on] Bitcoin.'”

Topping $7 trillion, the Fed’s balance sheet doubled in the first quarter of 2020 after the central bank printed over $3 trillion through rescue packages and quantitative easing.

Source: The Federal Reserve

As for applying a more conservative approach to managing the current crisis, Powell says that now is not the time.

“This is the time to use the great fiscal power of the United States to do what we can to support the economy and try to get through this with as little damage to the longer-run productive capacity of the economy as possible.”

The Goldman call will be hosted by the company’s chief Investment officer, Sharmin Mossavar-Rhami; Harvard Kennedy School economics professor and former chair of the Council of Economic Advisers, Jason Furman; and Goldman’s chief economist and head of global research, Jan Hatzius.

[the_ad id="95413"]
Check Latest News Headlines


 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Allen.G

Submit a Press Release

Industry Announcements

  • Kingdom Quest Launches Token IDO on Poolz
    August 18, 2022
  • W3 Storage Lab Raises $3 Million in Pre-Seed Round
    August 18, 2022
  • Massive Online PFP NFTs Meetup in the Mega World
    August 18, 2022
  • DeFi Yield Protocol (DYP) Anticipates Metaverse Platform Launch With Listings on Coinbase, Huobi and MEXC
    August 17, 2022
  • Former Navy SEAL and Author Willard Chesney Joins CBS SEAL Team Actor Justin Melnick With NFT Collection Release on the ReserveBlock RBX Network, Proceeds To Benefit the Boot Campaign
    August 16, 2022
  • Oraichain Introduces Accelerator Program for DApps Building on Its AI Layer One Ecosystem
    August 15, 2022
  • DAM Finance Receives Strategic Investment From Arrington Capital Moonbeam Growth Fund
    August 11, 2022
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$22,828.12
$22,828.12
2.78%
Ethereum
$1,822.40
$1,822.40
1.63%
Cardano
$0.496367
$0.496367
7.89%
XRP
$0.364062
$0.364062
3.17%
Dogecoin
$0.074438
$0.074438
7.62%

Spotlight

  • Low-Cap Altcoin Explodes After Institutional Giant BlackRock Namedrops Crypto Asset
    August 11, 2022
  • Binance Executive Says Retail Investors Flocking to Bitcoin (BTC) and Crypto Amid Rampant Inflation: Report
    August 14, 2022
  • Top Analyst Says Ethereum Rival Solana (SOL) Should Be Worth More, Believes Crypto Markets Won’t Revisit Lows
    August 16, 2022
  • Digital Assets Exchange Crypto.com Adds New Support for Surging, Under-the-Radar Altcoin
    August 12, 2022
Finance Magnates London Summit Banner
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX •
Futuremash •
Industry Announcements

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2022 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EMAIL ALERTS
  • DAILY HODL MIX

© 2022 The Daily Hodl