Goldman Sachs CEO Considers Bitcoin as a Potential ‘Store of Value’

David Solomon, CEO of Goldman Sachs, described blockchain technology as “extremely interesting,” highlighting its potential to address issues within the financial system. He made these remarks in an interview with CNBC.

However, the executive noted that he views cryptocurrencies as a “speculative investment” and does not see “real use” for them.

When asked about the potential creation of a bitcoin reserve akin to gold, Solomon stated that “there may well be a case for a store of value.”

With increased digitalization of the economy, such an approach could aid in its maintenance, the Goldman Sachs CEO clarified.

In March, the bank’s director for the Asia-Pacific region, Max Minton, noted a growing client interest in cryptocurrencies. He attributed the attention from traditional players to the approval of spot bitcoin ETFs in the US.

However, later, CIO of the company’s wealth management division, Sharmin Mossavar-Rahmani, reported a lack of client engagement with cryptocurrencies. One reason for the skepticism is the difficulty in accurately assessing the intrinsic value of digital assets.

Beyond trading, Goldman Sachs is involved in the tokenization of traditional assets using blockchain. The bank recently launched a platform called GS DAP for this purpose.

Back in March, Goldman Sachs announced the possibility of acquiring claims against liquidated crypto firms.