Bitcoin Never a ‘ Threat’ to US Dollar, Says Goldman Sachs CEO

Bitcoin has frequently pushed to fresh all-time-high cost signs since the election, but it’s still no risk to the U. S. money, Goldman Sachs ’ CEO said during a televised looks Wednesday.    

In an <a href=“https://www.cnbc.com/video/2025/01/22/watch-cnbcs-full-interview-with-goldman-sachs-chairman-and-ceo-david-solomon.html“ target=“_blank“ class=“sc-adb616fe-0 bJsyml“>interview with CNBC“ Squawk Box“ host Andrew Ross Sorkin, Goldman head David Solomon said Bitcoin is not in competition with the U. S. dollar—a big sticking point for adherents and reviewers of the online asset.  

“ I don’t see Bitcoin as a risk to the US dollar, ” Solomon said. “At the close of the day, I’m a huge believer in the U. S. dollar … [and ] Bitcoin is a speculative asset, an interesting speculative asset. ”

Blockchain’s critics argue the electronic currency could destroy the strength of the U. S. money, diminishing the United States ‘ financial can. However, the coin’s supporters say its volatility and style reduce its value as a money. And for that reason, they argue, Bitcoin was not nearly compete with the U. S. dollars.  

But whether Bitcoin is likely to offer the U. S. money a run for its wealth, one thing is clear: Businesses such as Goldman Sachs are rushing to invest in it.

Institutional investors ’ dollars have flooded area Cryptocurrency exchange-traded funds following their acceptance in the U. S. earlier next year. BlackRock’s iShares Bitcoin Trust—the largest such ETF—holds more than$ 60 billion in assets under management as of writing time, iShares data shows.

Goldamn Sachs was the second-largest owner of BlackRock’s iShares Bitcoin Trust per the agency’s latest SEC filing for the third ending September 30. Its holdings had swelled to$ 710 million by that point, plus the bank also had$ 79. 5 million in the Fidelity Bitcoin ETF,$ 35. 1 million in the Grayscale Bitcoin Trust, and$ 56. 1 million in the Invesco Galaxy Bitcoin ETF.

Different lenders have made similar assets into Cryptocurrency.   Wells Fargo last month broadened its investments in Bitcoin-related resources such as the Grayscale Bitcoin Trust by making new purchases in the Fidelity Wise Origin account, Invesco Galaxy Bitcoin ETF, iShares and VanEck Bitcoin Trust funds, the company’s latest 13F-HR processing shows. Meanwhile, Morgan Stanley ( MS ) increased its Bitcoin ETF holdings in 2024, according to its filings with federal regulators