02/09/19 07:00 UTC-4

Ex-Director of Goldman Sachs urges investors to buy Bitcoin

CryptocurrencyRaoul Pal calls for the purchase of BTC
Raoul Pal calls for the purchase of BTC

According to Raoul Pal (former director of Goldman Sachs’ hedge fund sales department), in the past few months, all kinds of analysts – from Bitcoin admirers to Wall Street professionals – have delineated a future recession.

 

Is it worth buying Bitcoin?

The general notion of a future recession has led many investors to the question: What should they buy to insure their risks?

According to one well-known economist and former Wall Streeter, Bitcoin is one of the leading hedging tools because it can play a major role in a future financial system that may not be based on Fiat, as it is today.

Interesting in the section: BitPay Wallet for storing Bitcoin

Raoul Pal has reiterated his views in a recent Twitter feed, promoting cryptocurrencies as a way out of a potential recession.

According to Pal, most of the world's assets – from securities to commodities (except for Bitcoin) – are placed into the volatile territory.

Pal is currently predicting a potential yield collapse of up to -4% for the US, which will be a complete shift in the finances paradigm. Given the rate cuts in Europe and Japan, this is possible.

Although Pal wrote that these charts might be just a coincidence, the reality is that a recession is about to come. This, he said, should cause investors to buy bonds, dollars, diamonds and, of course, Bitcoin.

Earlier last week, the US-China trade war intensified again, and countries increased their export tariffs. Investors are buying gold and Bitcoin to protect themselves from losses

 

Editor: Yuliya Soroka

See also: "US vs. China trade wars: Investors buy Bitcoin and gold"

#GoldmanSachs #investors #cryptocurrency #Bitcoin

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