The investment strategy group at Goldman Sachs has invited clients to a conference call regarding financial trends. [Forbes] The call will focus on Bitcoin—an asset that the investment bank has until now rejected.
The call is scheduled for May 27 and will include Sharmin Mossavar-Rhami and Jan Hatzius, both investment and economic specialists with the firm. Additionally, Jason Furman from Harvard Kennedy Business School will join the call.
The title of the call is “US Economic Outlook & Implications of Current Policies for Inflation, Gold and Bitcoin.” The inflationary impact of the Federal Reserve’s recent money printing policies will seemingly be addressed.
The attention on Bitcoin represents a sea-change for the firm. In 2018, Mossavar-Rhami famously said that Bitcoin had no value, declaring at the time:
We expect further declines in the future given our view that these cryptocurrencies do not fulfill any of the three traditional roles of a currency.
The prediction at that time was accurate, as the price of Bitcoin continued to decline through 2018. However, the company began changing its tone in early 2019.