Goldman Sachs CEO Sidesteps Bitcoin Inquiries, Says Blockchain Is More Important

Picture of Goldman Sachs CEO David Solomon

Goldman Sachs has taken many stances on bitcoin and cryptocurrencies at giant previously, even going so far as offering buying and selling companies to its wealthier shoppers. However, CEO David Solomon doesn’t appear as eager on the digital asset. In a latest interview on CNBC’s SquawkBox, the CEO sidesteps questions relating to bitcoin and his views on it.

Goldman Sachs CEO Doesn’t Own Bitcoin

David Solomon sat down with CNBC the place the CEO shared his ideas relating to the cryptocurrencies which are shaking up the investing house. When requested if he owned any Bitcoin or Ethereum, Solomon revealed that he didn’t maintain both of those digital facets, regardless of Goldman Sachs providing shoppers publicity to the market.

Related Reading | Bitcoin Open Interest Takes Second Largest Dump Of 2021

The CEO defined that bitcoin has probably not been on his radar nor did he know something in regards to the digital asset. “My view on bitcoin, for instance, is that I actually don’t know, however it’s actually now one thing individually that’s essential to me,” the CEO defined.

Goldman Sachs had jumped on the crypto practice again in May after offering investors access to non-deliverable forwards (NDFs). The agency has begun providing bitcoin NDFs right now after which added Ethereum in June to supply wider protection for its buyers. Later that month, Goldman Sachs partnered with investment firm Galaxy Digital to trade Bitcoin Futures.

When requested if he needs Goldman Sachs shoppers to enter crypto, Solomon gave an apparent but evasive reply. He explains that he needs the shoppers to do what they need. The CEO additionally added that some Goldman Sachs shoppers already take part within the house.

BTC  drops to $48K | Source: BTCUSD on TradingView.com

Blockchain Is More Important

Despite the CEO not proudly owning cryptocurrencies himself, the expertise related to the house has not escaped his radar. Instead of bitcoin, the Goldman Sachs CEO mentioned he was relatively within the digital funds house, primarily how blockchain expertise may be helpful to this house.

“I’m a giant believer within the digitalization that’s occurring, the disruption that’s occurring, in the best way monetary companies are delivered each for people and for establishments,” Solomon mentioned.

Related Reading | Despite Red Bitcoin, On-Chain Signals Flip Green

As for its attain, he added that it is a huge shift and Goldman Sachs is already attempting to get in on it. Additionally, Solomon provides that bitcoin isn’t the important thing factor on this state of affairs. Rather the main focus ought to be on how blockchain can assist in accelerating digitalization within the monetary companies sector. “I believe that’s a giant alternative and we’re enthusiastic about that,” mentioned the CEO.

Blockchain expertise has already managed to penetrate most industries, with the monetary companies business being the obvious one. Megabanks like JPMorgan and Morgan Stanley have all moved to develop their choices to shoppers within the house.

Featured picture from CNBC, chart from TradingView.com



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