Goldman Sachs CEO does not see BTC as a threat to the dollar

Goldman Sachs Chairman David Solomon said he does not believe Bitcoin is a threat to the dollar, saying he is a “big believer in the US dollar.”

In a interview with CNBC on January 22 Goldman Sachs Chairman and CEO David Solomon called Bitcoin (BTC) an “interesting speculative asset”, admitting that he still strongly believed in the prospects of the US dollar.

“At the end of the day, I strongly believe in the US dollar. The US dollar is extremely important. Bitcoin is a speculative asset, an interesting speculative asset. I don’t think there’s much to say about it,” Solomon said.

“I think there are others who could 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 involved directly in Bitcoin.

“If the world changed, maybe we could talk about it,” he said.

His statements echoed his previous statement in December when he said Goldman Sachs would consider a broader presence in Bitcoin or Ethereum (ETH) if authorized by US regulators. As president Donald Trump After officially taking over from Joe Biden, many traders are optimistic that the new administration will bring about a change in attitude towards the crypto market in the United States.

Trump himself promised to establish a national Bitcoin reserve during his presidential campaign, fueling Bitcoin’s rally to a new all-time high of $109,020 before his inauguration.

Asked if he hoped conditions would change for Goldman Sachs to hold Bitcoin, he said he didn’t have “much to say about speculation” on whether there would be big changes coming that could bring a cryptocurrency like Bitcoin into the traditional market. financial systems.

Despite his lack of confidence in Bitcoin’s prospects, Solomon said Goldman Sachs has studied and used Bitcoin. blockchain technology behind Bitcoin. He highlighted the importance of the technology underlying Bitcoin, which would be able to eliminate friction within the financial system.

By November 2024, Goldman Sachs detained worth approximately $718 million in shares in eight Bitcoin ETFs, the majority of which are stored in BlackRock’s iShares Bitcoin Trust, according to the investment firm’s filing with the SEC.