Goldman Sachs CEO David Solomon, once a crypto – Business News
Goldman Sachs CEO David Solomon, long a cryptocurrency skeptic, disclosed Wednesday that he personally owns a small quantity of Bitcoin.
Speaking on the World Liberty Forum at President Trump’s Mar-a-Lago membership in Palm Beach, Fla., the exec described his crypto holdings as “very little, but some” Bitcoin.
The 64-year-old Wall Street titan didn’t specify the worth of his investment or how long he’s had it, however his admission comes as Bitcoin hovers under $70,000, down from latest market highs.
Under Solomon’s management, Goldman has deepened crypto involvement, launching trading desks and custody companies for institutional purchasers REUTERS
The Post has sought remark from Goldman Sachs.
Solomon mentioned on the occasion hosted by presidential sons Eric Trump and Donald Trump Jr. that he’s intently monitoring the digital currency as half of broader financial technology trends.
Solomon mentioned conventional finance and cryptocurrency shouldn’t be seen as rivals and that tokens will probably be “super important” sooner or later.
“It’s one system; it’s our system,” he declared. “We have to do it the right way.”
Solomon was talking at an occasion held at Mar-a-Lago, President Donald Trump’s non-public membership in Palm Beach. The commander-in-chief is seen right here with First Lady Melania Trump on New Year’s Eve 2025. REUTERS
The 200 West St. chief government, who took over from Lloyd Blankfein in 2018, beforehand instructed crypto was extremely speculative — a selection of skepticism that was widespread on Wall Street. Solomon’s counterpart at JP Morgan, Jamie Dimon, mentioned back in 2021 that Bitcoin has “got no intrinsic value.”
But beneath Solomon’s management, Goldman has deepened crypto involvement, launching trading desks and custody companies for institutional purchasers.
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Wall Street’s angle on digital currencies has shifted beneath the second Trump administration, which has opted for a light-touch method in direction of crypto regulation.
Bitcoin is exchanged with out the involvement of banks or governments. Transactions permit anonymity, which has made it common with people who wish to keep their financial exercise and their identities non-public.
The digital cash are created by so-called “miners” who operate pc farms that confirm different customers’ transactions by fixing complicated mathematical puzzles.
These miners obtain Bitcoin in exchange for the hassle. It might be transformed to money when deposited into accounts at costs set in online trading.
