Crypto Industry and Trump’s Return to White House

As the crypto industry welcomes U.S. President Donald Trump back to the White House, influential financial leaders gather in Davos, Switzerland, for the annual World Economic Forum.

Goldman Sachs CEO David Solomon spoke Wednesday afternoon with Andrew Ross Sorkin on CNBC, discussing the potential impact of Trump’s strategic bitcoin reserve on the bank’s approach to crypto.

Solomon emphasized the importance of the underlying technology, stating, “We spend a lot of time on it. It’s something that we’re utilizing and testing to create less friction in the financial system. Super important.”

However, he clarified that from a regulatory standpoint, Goldman Sachs is still not permitted to own, principal, or be involved with Bitcoin. He noted, “If the world changed, you and I could have a discussion about it.”

This aligns with previous comments Solomon made in December 2024, indicating that any regulatory changes would prompt reevaluation.

“At the end of the day, I’m a big believer in the U.S. dollar,” Solomon stated, calling Bitcoin a speculative asset but not a substantial threat. Trump has shown interest in an ‘America-first’ strategic reserve focusing on U.S.-based coins.

When asked if Bitcoin poses a threat to the U.S. dollar, Solomon replied, “I do not think Bitcoin is a threat to the U.S. dollar. Others might, but I don’t.”

Bitcoin as a Store of Value

In past discussions, Solomon referred to blockchain technology as “super interesting,” suggesting it may reduce friction in a digitizing financial system. He regards Bitcoin as a speculative investment and doesn’t see substantial use cases, although he acknowledged a potential store of value aspect.

Goldman Sachs is reportedly in talks with potential partners to spin out its digital-assets platform into a separate company, according to Bloomberg in November.