Goldman Sachs CEO says he has not personally invested in Bitcoin or Ethereum

The head of Goldman Sachs’ investment bank, David Solomon, has not invested money in Bitcoin or Ethereum. In an interview with CNBC, he noted that he does not have ‘firm opinion’ on the matter.

“I don’t personally own #bitcoin or #ethereum,” says $GS CEO @DavidSolomon on #btc. “It’s really not something individually that’s important to me. I’m a big believer in the digitization and the disruption that’s occurring in the way financial services are delivered.” pic.twitter.com/8wTw0RsII0

— Squawk Box (@SquawkCNBC) December 7, 2021

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«When you ask whether I’ve changed my mind, I don’t know exactly what you mean. If we’re talking about Bitcoin, I really don’t know, but it’s certainly not something that’s really important to me. I strongly believe in digitisation and the changes underway in how financial services are delivered — for institutions and for individuals», — explained he.

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In short, the host Andrew Sorkin asked the bank’s chief whether he wants clients to interact with digital assets. According to Solomon, he sees no reason to stand in the way of it, but he does not approve of such a practice:

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«I want our clients to do what they think is right. As a speculative asset, this [crypto] is interesting. Do some of our clients participate in this market? Certainly. But whether it goes up or down — look at what happened in the last week. I don’t know if Bitcoin has a stable state».

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At the same time, he emphasised that the technology behind cryptocurrencies matters far more than the digital assets themselves. In his view, blockchain or ‘other technologies that have not yet been invented’ could accelerate the digitisation of financial services.

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Earlier Solomon predicted a ‘major evolution’ of the cryptocurrency market, which is currently hampered by ineffective regulation.

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In December, media learned of Goldman Sachs’ interest in Bitcoin-collateralized loan products.

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As reported in May, the financial conglomerate recognised Bitcoin as a ‘class of assets’, and in June labelled it an ‘unsuitable investment’.

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