{"id":38313,"date":"2025-01-23T08:46:01","date_gmt":"2025-01-23T08:46:01","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=38313"},"modified":"2025-01-23T08:46:01","modified_gmt":"2025-01-23T08:46:01","slug":"bitcoin-isnt-a-threat-to-the-us-dollar-goldman-sachs-ceo","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=38313","title":{"rendered":"Bitcoin Isn\u2019t A Threat To The US Dollar: Goldman Sachs CEO"},"content":{"rendered":"

Goldman Sachs CEO David Solomon dismissed the notion that Bitcoin <\/span>poses a threat to<\/span> the US dollar, instead highlighting the cryptocurrency\u2019s potential benefits for the financial sector. <\/span><\/p>\n

Speaking in<\/span> an interview with CNBC<\/span><\/a> on 22 January 2025 during the World Economic Forum in Davos, Solomon expressed confidence in the dollar\u2019s global dominance while describing Bitcoin as an \u201cinteresting speculative asset.\u201d<\/span><\/p>\n

\u201cI do not think Bitcoin is a threat to the US dollar,\u201d Solomon stated. He emphasized his belief in the dollar\u2019s central role in the global economy and noted that Bitcoin\u2019s underlying technology has caught the attention of Goldman Sachs.<\/span><\/p>\n

EXPLORE: <\/span>Top 10 AI Agent Crypto Coins to Buy in 2025<\/span><\/a><\/strong><\/p>\n

Blockchain Research Key To Reducing Financial System Inefficiencies<\/span><\/h2>\n

According to Solomon, the bank is actively researching blockchain applications to reduce inefficiencies in the financial system, calling this exploration \u201csuper important.\u201d<\/span><\/p>\n

However, regulatory barriers remain a significant limitation for banks. \u201cAt the moment, from a regulatory perspective, we can\u2019t own, we can\u2019t principal, we can\u2019t be involved with Bitcoin at all,\u201d Solomon explained. He added that this could change if the regulatory environment evolves.<\/span><\/p>\n

Solomon\u2019s views align with <\/span>those of<\/span> Lee Bratcher, president of the Texas Blockchain Council, who advocates for the proliferation of dollar-pegged stablecoins to maintain US dollar dominance. Bratcher recently argued that stablecoins offer global access to the dollar, reinforcing its position as the world\u2019s reserve currency.<\/span><\/p>\n\n

The US Dollar Index (DXY) has risen 0.14% over the past 30 days to 108.310, while Bitcoin has seen a 7.89% increase over the same period, trading at $102,911, according to TradingView data.<\/span><\/p>\n

In November, Goldman Sachs announced plans to spin off its cryptocurrency platform into a standalone company. <\/span><\/p>\n

The new entity will focus on creating and trading financial instruments on blockchain networks, with the transition expected to be completed within 12 to 18 months, pending regulatory approval, according to Mathew McDermott, Goldman\u2019s global head of digital assets.<\/span><\/p>\n

EXPLORE:\u00a0<\/span>15 New & Upcoming Coinbase Listings to Watch in 2025<\/span><\/a><\/strong><\/p>\n

VanEck: US Could Slash National Debt By 35% With 1 Million Bitcoin Reserve<\/span><\/h2>\n

The\u00a0US could potentially <\/span>reduce its national debt by 35%<\/span><\/a> within 24 years by establishing a reserve of 1 million Bitcoin, according to a report by asset management firm VanEck.\u00a0The projection aligns with a proposal introduced by Senator Cynthia Lummis.<\/span><\/p>\n

VanEck\u2019s analysis assumes Bitcoin will grow at a compounded annual growth rate (CAGR) of 25%, reaching $42.3 million per BTC by 2049.\u00a0During the same period,\u00a0the\u00a0U.S.\u00a0national debt\u00a0is expected\u00a0to increase at a 5% CAGR, ballooning from $37 trillion in 2025 to $119.3 trillion.<\/span><\/p>\n

By 2049, a Bitcoin reserve could offset approximately $42 trillion in national liabilities,\u00a0according\u00a0to the report\u00a0authored by VanEck\u2019s head of digital asset research, Matthew Sigel, and investment analyst Nathan Frankovitz.<\/span><\/p>\n

EXPLORE:\u00a0<\/span>10 Coins with High Returns: Crypto Forecast 2025<\/span><\/a><\/strong><\/p>\n

The post Bitcoin Isn\u2019t A Threat To The US Dollar: Goldman Sachs CEO<\/a> appeared first on 99Bitcoins<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Goldman Sachs CEO David Solomon dismissed the notion that Bitcoin poses a threat to the US dollar, instead highlighting the cryptocurrency\u2019s potential benefits for the financial sector. Speaking in an interview with CNBC on 22 January 2025 during the World Economic Forum in Davos, Solomon expressed confidence in the dollar\u2019s global dominance while describing Bitcoin […]<\/p>\n","protected":false},"author":0,"featured_media":38314,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-38313","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/38313"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=38313"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/38313\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/38314"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=38313"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=38313"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=38313"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}