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

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 purchasers. However, CEO David Solomon doesn’t appear as eager on the digital asset. In a current 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 elements, regardless of Goldman Sachs providing purchasers publicity to the market.

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The CEO defined that bitcoin has not likely been on his radar nor did he know something concerning the digital asset. “My view on bitcoin, for example, is that I really don’t know, but it’s really now something individually that’s important to me,” the CEO defined.

Goldman Sachs had jumped on the crypto prepare again in May after offering investors access to non-deliverable forwards (NDFs). The agency has begun providing bitcoin NDFs at the moment 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 purchasers to enter crypto, Solomon gave an apparent but evasive reply. He explains that he needs the purchasers to do what they need. The CEO additionally added that some Goldman Sachs purchasers already take part within the house.

BTC  drops to $48Okay | Source: BTCUSD on

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 fairly within the digital funds house, primarily how blockchain expertise might be useful to this house.

“I’m a big believer in the digitalization that is occurring, the disruption that is occurring, in the way financial services are delivered both for individuals and for institutions,” Solomon mentioned.

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As for its attain, he added that this can be a large 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 needs to be on how blockchain can help in accelerating digitalization within the monetary companies sector. “I think that’s a big opportunity and we’re excited about that,” mentioned the CEO.

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

Featured picture from CNBC, chart from

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