Bitcoin Not A Threat To USD: Goldman Sachs CEO
Recently, the CEO of Goldman Sachs spoke at the World Economic Forum and made an important announcement that sparked excitement among cryptocurrency enthusiasts. He shared the bank’s official stance on Bitcoin in his latest interview.
“I’m a big believer in the U.S. dollar. Bitcoin is an interesting speculative asset. I don’t think Bitcoin is a threat to the U.S. dollar,” he said.
Goldman Sachs CEO David Solomon said in response to a question about Donald Trump’s proposed Bitcoin reserve strategy that Bitcoin’s unpredictable market behavior runs counter to Goldman Sachs’ business approach. He also highlighted the company’s reliance on the dollar’s dominance.
Although Goldman Sachs cannot directly own Bitcoin due to current regulatory restrictions, it is actively exploring blockchain technology. However, he noted that shifts in the regulatory framework or policy environment could provide the company with opportunities to explore cryptocurrencies.
While he noted that, ultimately, he is a “dollar believer,” he also called Bitcoin an “interesting speculative asset.”
Bitcoin is not a threat to the dollar
Importantly, he stated that he does not believe Bitcoin poses a threat to the US dollar. Additionally, BlackRock CEO Larry Fink said in a recent interview that Bitcoin could rise to $700,000 if people become more worried about currency devaluation and economic instability.
Recently, Bitcoin surged to an all-time high of $109,000 just hours before the highly anticipated inauguration of the 47th President of the United States, Donald Trump. It is currently trading at $104,428, down more than 1% in the past day.
The United States—Soon to Become the Global Cryptocurrency Hub?
Many in the cryptocurrency community see Trump’s return to power as the beginning of a new era, hoping for greater recognition of decentralized currencies. Many expect him to announce an executive order on cryptocurrencies early in his administration, along with the creation of a cryptocurrency advisory committee and a national Bitcoin reserve.
