Goldman Sachs CEO Clarifications His Stance on Bitcoin
Goldman Sachs CEO Clarifies His Stance on Bitcoin
Kevin Helms
Goldman Sachs CEO David Solomon revealed his stance on Bitcoin in a CNBC interview where his previous skepticism and recent political focus on Bitcoin were discussed. While he acknowledged Bitcoin's volatile and speculative nature, Solomon stated that “we've never been on the other side of whether Bitcoin will become anything.” Meanwhile, Goldman Sachs continues to deepen its involvement in the cryptographic field.
David Solomon's stance on Bitcoin
Goldman Sachs CEO David Solomon revealed his position on Bitcoin in a CNBC interview with Squawk Box co-anchor Andrew Sorkin. He reminded Solomon of his previous reservations about Bitcoin and asked if the rise of crypto indicates its permanence in the financial environment.
Sorkin pointed out the volatility of Bitcoin, emphasized that it had dropped from 70,000 dollars to 66,000 dollars one morning, and mentioned its emergence as a political issue with figures similar to those in the former US. President Donald Trump and US Vice President Kamala Harris are involved in the crypto community.
“Does this mean crypto is here to stay? A few years ago, I think you were on the opposite side of where Bitcoin might eventually land,” Sorkin asked Goldman Sachs CEO. Solomon answered as follows.
I've never been on the other side as to whether Bitcoin is going to be anything... I think it's a speculative investment.
Goldman Sachs is increasingly active in the digital asset space. Matthew McDermott, Goldman's global head of digital assets, announced plans this month to expand the company's crypto services, focusing on tokenizing assets such as money market funds and real estate. The company plans to launch three tokenization projects, including one, in the US by the end of the year.
In May, Max Minton, Goldman's head of digital assets in the Asia Pacific region, pointed out that approval of the Bitcoin Spot Exchange Traded Fund (ETF) in the US has reignited customer interest and activity in crypto. However, not everyone at GoldmanSachs is enthusiastic about BTC and crypto. Goldman Sachs's chief investment officer in the wealth management division remains skeptical, dismisses cryptocurrencies as an investment asset class, and emphasizes that bitcoin has no intrinsic value.
Kevin Helms
Goldman Sachs CEO David Solomon revealed his stance on Bitcoin in a CNBC interview where his previous skepticism and recent political focus on Bitcoin were discussed. While he acknowledged Bitcoin's volatile and speculative nature, Solomon stated that “we've never been on the other side of whether Bitcoin will become anything.” Meanwhile, Goldman Sachs continues to deepen its involvement in the cryptographic field.
David Solomon's stance on Bitcoin
Goldman Sachs CEO David Solomon revealed his position on Bitcoin in a CNBC interview with Squawk Box co-anchor Andrew Sorkin. He reminded Solomon of his previous reservations about Bitcoin and asked if the rise of crypto indicates its permanence in the financial environment.
Sorkin pointed out the volatility of Bitcoin, emphasized that it had dropped from 70,000 dollars to 66,000 dollars one morning, and mentioned its emergence as a political issue with figures similar to those in the former US. President Donald Trump and US Vice President Kamala Harris are involved in the crypto community.
“Does this mean crypto is here to stay? A few years ago, I think you were on the opposite side of where Bitcoin might eventually land,” Sorkin asked Goldman Sachs CEO. Solomon answered as follows.
I've never been on the other side as to whether Bitcoin is going to be anything... I think it's a speculative investment.
Goldman Sachs is increasingly active in the digital asset space. Matthew McDermott, Goldman's global head of digital assets, announced plans this month to expand the company's crypto services, focusing on tokenizing assets such as money market funds and real estate. The company plans to launch three tokenization projects, including one, in the US by the end of the year.
In May, Max Minton, Goldman's head of digital assets in the Asia Pacific region, pointed out that approval of the Bitcoin Spot Exchange Traded Fund (ETF) in the US has reignited customer interest and activity in crypto. However, not everyone at GoldmanSachs is enthusiastic about BTC and crypto. Goldman Sachs's chief investment officer in the wealth management division remains skeptical, dismisses cryptocurrencies as an investment asset class, and emphasizes that bitcoin has no intrinsic value.
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