Bitcoin: the boss of Goldman Sachs does not see BTC as a threat to the dollar

Bankers would like to adopt Bitcoin. The big bank Goldman Sachs has for some time positively changed its position on Bitcoin (BTC) and cryptocurrencies. The multinational banking company now shows itself keen to offer Bitcoin and Ethereum trading (ETH) to its wealthy clients, as soon as regulations allow. Its CEO, David Solomonhas just reaffirmed this impatient wait for a clear regulation of the crypto sector, while explaining that Bitcoin should not not be considered as a threat for the US dollar.

Goldman Sachs would like, but “cannot legally”, offer crypto-assets

It is during the World Economic Forum of Davos (WEF), Switzerland, that David Solomonthe big boss of Goldman Sachs spoke on the subject of Bitcoin and cryptocurrencies, during an interview given to the CNBC show Squawk Box.

The first observation is that, in addition to always being interested in revolutionary technologies underlying cryptocurrencies, the mega-bank would like also a lot offer services on these new digital assets. From custody to trading, what Goldman Sachs lacks (like other US banks) is regulatory clarity and green light.

“We spend a lot of time [étudier] the underlying technologies [aux cryptomonnaies]. We use and test it to reduce friction in the financial system. This is very important. (…) But for now, from a regulatory point of view, we cannot own and (…) we cannot be involved with Bitcoin. (…) If the regulatory environment changes, we will evaluate it, but at this time we are not authorized to do so. »

David Solomon, president and CEO of Goldman Sachs

Bitcoin should not be seen as a threat to the dollar, says David Solomon

The head of Goldman Sachs explains, without much surprise, that he strongly believes in the power of the American dollar. However, he does not think that Bitcoin is a direct competitor that would challenge the currency of the United States.

Indeed, for David Solomon, Bitcoin remains above all a “ interesting speculative asset “. The banker does not yet perceive the king of cryptos as a possible international currency. Maybe because of his still too much volatility (even if it decreases over time)?

“Bitcoin is a speculative asset, an interesting speculative asset. I don’t think there are many more questions to ask about this. (…) I don’t think Bitcoin is a threat to the US dollar. »

David Solomon, president and CEO of Goldman Sachs

What is even more interesting here is to note that the words of the boss of Goldman Sachs joinjust a few days apart, those of the boss of another major US bank: Brian Moynihanthe CEO of Bank of America. Indeed, the latter also affirmed that banks were only waiting for clear rules to adopt Bitcoin and cryptocurrencies. And this is good news, because after 4 years of anti-crypto war by Joe Biden and Gary Gensler, the administration of Donald Trump shows himself very favorable has the development of constructive and specific rules for crypto-assets.