Goldman Sachs Chairman David Solomon says he doesn’t think Bitcoin is a threat to the dollar, stating that he is a “strong supporter of the US dollar.”
In one interview with CNBC on January 22, David Solomon, chairman and CEO of Goldman Sachs, called Bitcoin (BTC) an “interesting speculative asset,” admitting that he was still very much in favor of the prospect of the US dollar.
“After all, I am 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,” Solomon said.
“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 in Bitcoin.
“If the world changed, maybe we could have a discussion about it,” he said.
His comments echoed his previous statement in December, when he said Goldman Sachs would consider a broader presence in Bitcoin or Ethereum (ETH) if it were approved by US regulators. With President Donald Trump officially taking over from Joe Biden, many traders are optimistic that the new administration will bring about a shift in attitudes toward the crypto market in the United States.
Trump himself pledged to set up a national Bitcoin reserve during his presidential campaign, further fueling the Bitcoin rally to reach a new record high of $109,020 ahead of his inauguration.
When asked if he hoped circumstances would change for Goldman Sachs to be able to hold Bitcoin, he said he “didn’t have much to say on a speculation” about whether there will be major changes that will affect cryptocurrency like Bitcoin could bring into the traditional market. financial systems.
Despite his lack of confidence in Bitcoin’s prospects, Solomon said Goldman Sachs has delved into and leveraged the blockchain technology behind Bitcoin. He emphasized the importance that Bitcoin’s underlying technology could remove friction within the financial system.
According to the investment firm’s SEC filing, Goldman Sachs owned approximately $718 million worth of shares in eight Bitcoin ETFs as of November 2024, most of which was stored in BlackRock’s iShares Bitcoin Trust.
