As the crypto indsutry welcomes U.S. President Donald Trump back to the White House, some of the world's most influential financial leaders decend upon Davos, Switzerland, for the annual World Economic Forum.
Goldman Sachs CEO David Solomon took time Wednesday afternoon to speak with Andrew Ross Sorkin on CNBC. Sorkin asked Solomon if Trump's potential strategic bitcoin reserve could influence the bank's process on dealing with crypto.
"Well, first, you know, we've had this conversation a number of times," Solomon said, "the underlying technology is something we spend a lot of time on. It's something that we're utilizing and testing to create less friction in the financial system. Super important."
From a regulatory perspective, however, Goldman Sachs still can't own, principle or be involved with Bitcoin, Solomon clarified. "If the world changed, you and I could have a discussion about it," he said.
This is similar to comments Solomon made in December 2024. "If the regulatory structure changes, we would evaluate that, but at the moment we're not permitted to," he said at the time.
"At the end of the day, I'm a big believer in the U.S. dollar," Solomon said Wednesday. "Bitcoin is a speculative asset, an interesting speculative asset. I don't think there's a lot more to ask about this, though."
Trump is receptive to establishing an “America-first” strategic reserve that prioritizes coins founded in the U.S., the New York Post reported earlier this month. Sorkin asked Solomon if, in an America-first world, is Bitcoin a threat to the U.S. dollar?
"I do not think Bitcoin is a threat to the U.S. dollar," Solomon said bluntly. "Others might, [but] I don't see Bitcoin as a threat to the U.S. dollar."
Solomon has previously said the underlying blockchain technology behind crypto is "super interesting," highlighting how progress can be made to take the friction out of the financial system as the system becomes increasingly digitized.
"I've always said it's a speculative investment," Solomon said during an interview with CNBC last summer. "I don't see a real use case," though noted "there very well could be a store of value case" for bitcoin when asked about strategic gold reserves.
Goldman Sachs is speaking with potential partners about spinning out its digital-assets platform into a new company, Bloomberg reported in November.
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