David Solomon said that Donald Trump’s support for Bitcoin via Bitcoin Strategic Reserve (BSR) is still not enough to remove the term “speculative” for Bitcoin.
David Solomon is CEO of Goldman Sachs, a NewYork-based leading global investment banking, securities, and asset management firm. This firm was founded in 1869 & currently provides almost every type of financial services. Since the inception of Bitcoin, Goldman Sachs executives have been against it, but over the years, their stance on this digital asset changed at some degree.
On 22 Jan 2025, In an interview with CNBC during the World Economic Forum in Davos, Goldmann Sachs CEO said that he doesn’t think that Bitcoin is a threat to the US dollar.
Solomon added that Goodman Sachs focussed on crypto’s underline technology research to reduce the friction in the traditional financial system. He noted that the latest changes in the regulatory landscape for these digital assets are not enough to remove the limitations that banks are facing with using Bitcoin.
Furthermore, the CEO stated that his firm can’t involve Bitcoin despite the change in regulatory status because it is still a speculative asset but ensured that the firm will be ok to go with Bitcoin if the world goes through a change for this digital asset.
It is worth it to note that a Goldman Sachs executive’s statement echoes a similar sentiment to Lee Bratcher, president of the industry advocacy group the Texas Blockchain Council.
In an interview with Cointelegraph, Bratcher said that the surging adoption of overcollateralized, dollar-pegged stablecoins would likely increase the use of the US dollar & overall increase the dominance of the US dollar as a global currency.
Here crypto folks need to know that despite the fact that the Goldman Sachs CEO is against Bitcoin but this firm is currently engaged in blockchain technology development work to run traditional financial services on blockchain network for fast & efficient services for the clients and also in the early of 2023 the firm planned to offer a “full-spectrum” of investments in Bitcoin and digital assets for clients.
Read also: BlackRock’s Larry Fink predicts a 700% rally for Bitcoin amid economic instability
