Ex-Goldman Sachs Exec Urges Investors to Buy Bitcoin as Fears Mount

Over the past few months, analysts across the board — from Bitcoin (BTC) lovers to Wall Street’s bulls — have been charting an impending recession.

This has left many investors with one pressing question: what should they buy to hedge their risk?

According to one prominent economist and former Wall Streeter, Bitcoin is one of the leading hedges, as it may play a backbone in the future financial system that may not be fiat-based as it is today.

Raoul Pal doubled down on this sentiment in a recent Twitter thread, touting the cryptocurrency as a way out of a potential recession — or maybe even a depression.

Buy Bitcoin, Right?

According to Pal, Goldman Sachs’s former head of hedge fund sales, a majoity of the world’s assets — from everything from equities to commodities (but not Bitcoin) — are entering precarious territory.

Pal is currently charting a potential yield collapse to -4% for the two-year U.S. Treasury, which would be a total paradigm shift in finance. With rates going negative in Europe and Japan, this isn’t out of question.

The Commodity Index is also on the verge of brekaing through a key support level, which may coincide with a deflationary breakdown that is being reflected in interest rates.

Also, banks in vulnerable regions — namely Japan and Europe — are also purportedly teetering on the “cliff of death”, as the Bitcoin bull likes to call it.

And who could forget foreign currencies, which may soon collapse against the U.S. dollar.

While Pal wrote that these charts might be just a coincidence, the reality is that a recession may be brewing. This, he says, should be cause for investors to purchase bonds, dollars, diamonds, and, of course, Bitcoin.

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