Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn
Goldman Sachs CEO sees Bitcoin as a speculative asset, not a threat to the US dollar

Goldman Sachs CEO sees Bitcoin as a speculative asset, not a threat to the US dollar

Cryptobriefing2025/01/23 00:33
By:Cryptobriefing

Key Takeaways

  • Goldman Sachs CEO David Solomon views Bitcoin as a speculative asset, not a threat to the US dollar.
  • Goldman Sachs is exploring blockchain technology applications but faces regulatory constraints in crypto involvement.

Goldman Sachs CEO David Solomon dismissed Bitcoin’s potential to challenge the US dollar’s dominance, describing it as “an interesting speculative asset.”

“At the end of the day, I’m a big believer in the US dollar. I think the US dollar is super important,” Solomon said in a Wednesday interview with CNBC’s Squawk Box when asked about Bitcoin’s threat to the national currency.

“Bitcoin is an interesting speculative asset. I don’t think there are a lot of words to say,” the Goldman chief added. “I don’t see Bitcoin as a threat to the US dollar.”

Solomon’s remarks come at a time when the crypto community is eager to see if President Donald Trump will fulfill his promise to establish a national Bitcoin stockpile, a key commitment in his re-election campaign.

When asked whether Goldman Sachs’ approach to crypto assets is going to “fundamentally change” under the Trump administration, Solomon said the bank has already been fundamentally engaged and exploring blockchain technology’s potential applications in finance.

“The underlying technology is something we’ve spent a lot of time on. It’s something that we’re utilizing, testing to create less frictional financial systems,” Solomon said.

The CEO noted regulatory limitations on the bank’s crypto involvement. “At the moment, from the regulatory perspective, we can’t own, we can’t principle, we can’t be involved with Bitcoin,” Solomon said, indicating potential changes if regulations shift.

Speaking at a Reuters Next conference last month, Solomon said that Goldman Sachs’ current ability to participate in spot trading for Bitcoin and Ethereum is limited due to regulatory constraints.

If the regulatory environment evolves, the bank would evaluate the opportunity to engage in market-making for these assets, he said.

Goldman Sachs currently holds $461 million in BlackRock’s iShares Bitcoin Trust, according to a recent regulatory filing. The bank also maintains stakes in funds managed by Fidelity, Grayscale, Invesco/Galaxy, WisdomTree, and Ark/21Shares.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

Why TradFi firms could turn to bitcoin margin loans: Maple CEO

Maple’s Sid Powell said that TradFi firms have been in contact with the firm about lending and borrowing in crypto

Blockworks2025/01/30 23:22

The Daily: ECB President Lagarde rejects bitcoin for Eurozone reserves while the Czech central bank considers it and more

European Central Bank President Christine Lagarde said bitcoin is not an option as a reserve asset for the Eurozone’s central bank reserves, citing liquidity, security and regulatory concerns.Meanwhile, the Czech National Bank approved a proposal from Governor Aleš Michl to assess diversifying some of its country’s reserves into bitcoin.

The Block2025/01/30 21:34

'Inevitable collapse': Trump’s crypto push sparks concern at Paul Singer's Elliott Management: FT

The hedge fund said in a new investor letter that the “inevitable collapse” of the crypto bubble “could wreak havoc,” according to the Financial Times.Elliott’s Paul Singer has never been a fan of crypto, telling WSJ in 2023 that cryptocurrencies are “completely lacking in any value.”

The Block2025/01/30 21:34