Goldman Sachs chairman David Solomon says he doesn’t think Bitcoin is a threat to the dollar, saying he’s a “big believer in the US dollar.”
In one interview with CNBC on January 22, Goldman Sachs President and CEO David Solomon called Bitcoin (BTC) an “interesting speculative asset,” admitting that he was still a firm believer in the outlook for the US dollar.
“At the end of the day, I’m a big believer in the US dollar. The US dollar is super important. Bitcoin is a speculative asset, an interesting speculative asset. I don’t think there’s much 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 US dollar,” he continued.
From a regulatory perspective, Solomon said the investment bank is currently unable to hold, trade or be directly involved with Bitcoin.
“If the world has changed, maybe we can have a discussion about it,” he said.
His statements echoed his previous statement in December when he said Goldman Sachs was considering a wider presence in Bitcoin or Ethereum (ETH) if authorized by US regulators. As president Donald Trump officially taken over by Joe Biden, many traders are optimistic that the new administration will bring about a change in attitudes towards the crypto market in the United States.
Trump himself promised to establish a national Bitcoin reserve during his campaign for president, further fueling Bitcoin’s rally to reach a new high of $109,020 before his inauguration.
When asked if he hoped that conditions would change so that Goldman Sachs could hold Bitcoin, he said that he “doesn’t have much to say on a speculation” about whether there will be big changes that could bring cryptocurrency like and Bitcoin in the traditional. financial systems.
Despite his lack of faith in Bitcoin’s prospects, Solomon said that Goldman Sachs broke through and using the blockchain technology behind Bitcoin. He emphasized the importance of the underlying technology of Bitcoin could eliminate friction in the financial system.
From November 2024, Goldman Sachs kept about $718 million worth of shares in eight Bitcoin ETFs with the majority of them stored in BlackRock’s iShares Bitcoin Trust according to the investment firm’s SEC filing.
