Goldman Sachs Boss Says Bitcoin Doesn't Threaten US Dollar

During a recent  interview with CNBC, David Solomon, chief executive officer at banking giant Goldman Sachs, opined that Bitcoin will not pose a threat to the U.S. dollar.

"I don’t see Bitcoin as a threat to the US dollar," he told CNBC's Andrew Ross Sorkin. 

Solomon described Bitcoin as an "interesting speculative asset," but he is seemingly not ready to embrace the cryptocurrency. 

"At the end of the day, I am a big believer in the U.S. dollar. I think that the U.S. dollar is super important. Bitcoin is…an interesting speculative asset," he said.  

Solomon has stated that blockchain, Bitcoin's underlying technology, is something that the bank has spent a lot of time on. 

The Goldman boss says that the bank is utilizing and testing this technology to create less friction within the financial system. 

However, the bank cannot be involved in Bitcoin due to regulatory constraints. 

"If the world changed, you and I could have a discussion about it," he said. 

Solomon, who was appointed as the bank's CEO back in 2018, has repeatedly praised blockchain. As  reported by U.Today , he opined that this technology could make the financial infrastructure more efficient while admitting that he did not actually have a strong view on cryptocurrencies.

A growth-oriented agenda 

Solomon has also weighed in on the state of the U.S. economy, claiming that it is in "a pretty good shape." 

He has also added that people are more optimistic about running a growth-oriented agenda.  

"We are going to free up some investment, we're going to unlock the private sector a bit more, and it's going to be constructive," he said.