The post Bitcoin Not A Threat To USD: Goldman Sachs CEO appeared first on Coinpedia Fintech News
Recently, Goldman Sachs CEO spoke at the World Economic Forum, making a huge statement that has sparked excitement among crypto enthusiasts. He shared the bank’s official stance on Bitcoin in the latest interview.
“I am a big believer in the US dollar. Bitcoin is an interesting speculative asset. I don’t see Bitcoin as a threat to the US dollar,” he said.
Goldman Sachs CEO David Solomon responded to questions about Donald Trump’s proposed Bitcoin reserve strategy, stating that Bitcoin’s unpredictable market behavior goes against Goldman Sachs’ business approach. He also highlighted the company’s reliance on the dominance of the US dollar.
Although Goldman Sachs cannot directly own Bitcoin due to current regulatory restrictions, it is actively exploring blockchain technology. However, a shift in the regulatory framework or policy landscape could provide the firm with opportunities to explore cryptocurrency, he noted.
While he noted that at the end of the day, he is a big ‘USD believer’, he also called Bitcoin an ‘interesting speculative asset.’
Bitcoin Not A Threat To USD
Importantly, he shared that he does not see Bitcoin as a threat to the US Dollar. Besides, In a recent interview BlackRock CEO Larry Fink has said that Bitcoin could go up to $700,000 if there is more fear of currency debasement and economic instability.
Recently, Hours before the highly anticipated inauguration of the 47th President of the United States Donald Trump, Bitcoin galloped to an all-time high to $109,000. It is currently trading at $104,428, down over 1% in the past day.
US- A Global Crypto Hub Soon?
Trump’s return to power is seen by many in the crypto community as the start of a new era, with hopes for greater recognition of decentralized currencies. Many anticipate that he will announce an executive order on crypto early in his administration, along with the creation of a crypto advisory council and a national bitcoin reserve.