Outside Source
Goldman Sachs Chairman David Solomon says he does not think Bitcoin is a threat to the dollar, stating he is a ‘big believer in the U.S. dollar’.
In an interview with CNBC on Jan. 22, Goldman Sachs Chairman and CEO David Solomon called Bitcoin (BTC) an “interesting speculative asset,” admitting he was still very much a firm believer in the prospect of the U.S. dollar.
“At the end of the day, I’m a big believer in the U.S. dollar. The U.S. dollar is super important. Bitcoin’s a speculative asset, an interesting speculative asset. I don’t think there is a lot more to say about it,” said Solomon.
“I think there are others who might see it [as a threat]. But I don’t see Bitcoin as a threat to the U.S. dollar,” he continued.
From a regulatory perspective, Solomon said the investment bank is currently unable to hold, trade or be involved directly with Bitcoin.
“If the world changed, maybe we could have a discussion about it,” he said.
His statements echoed his previous declaration in December when he said that Goldman Sachs would consider a broader presence in Bitcoin or Ethereum (ETH) if authorized by U.S. regulators. As President Donald Trump officially takes over from Joe Biden, many traders are optimistic that the new administration will bring a shift to attitudes towards the crypto market in the United States.
Trump himself has promised to establish a national Bitcoin reserve during his campaign for president, further fueling the Bitcoin rally to reach a new all-time high of $109.020 ahead of his inauguration.
When asked whether he hoped that conditions would change so that Goldman Sachs could hold Bitcoin, he said that he did not “have a lot to say about a speculation” on whether there will be big changes coming that could bring cryptocurrency like Bitcoin into the traditional financial systems.
Despite his lack of faith in Bitcoin’s prospects, Solomon said that Goldman Sachs has been delving into and utilizing the blockchain technology behind Bitcoin. He emphasized the importance of Bitcoin’s underlying technology would be able to eliminate friction within the financial system.
By November 2024, Goldman Sachs held approximately $718 million worth of shares in eight Bitcoin ETFs with a majority of them stored in BlackRock’s iShares Bitcoin Trust according to the investment firm’s SEC filing.
This article first appeared at crypto.news
