Transcription of Global Macro ISSUE 98 Research TOP MIND
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CRYPTO: A NEW ASSET CLASS? ISSUE 98| May 21, 2021| 6:00 PM EDT T Global Macro ResearchInvestors should consider this report as only a single factor in making their investment decision. For Reg AC certification and other important disclosures, see the Disclosure Appendix, or go to The Goldman Sachs Group, cryptocurrency prices remaining extremely volatile even as interest in cryptos from credible investors has been rising, and legacy financial institutions including ourselves have been launching new crypto products and services, crypto is undoubtedly Top of Mind. Amid the recent volatility, we ask experts whether cryptos can and should be considered an institutional asset class, including Galaxy s Michael Novogratz (Yes; the mere fact that a critical mass of credible investors is engaging with cryptos has cemented this), NYU s Nouriel Roubini (No; cryptos have no income.)
Amid the recent volatility, we ask experts whether cryptos ... • Unemployment; we expect a somewhat less front -loaded jobs recovery, but still see unemployment at 4% by year-end 2021. ... Datapoints/trends we’re focused on • Pent-up demand, which should boost spending by ¥3.1tn (1% of consumption) and ¥3.9tn (1.3%) in the first and ...
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