Goldman Sachs CEO confirmed that the investment bank is open to getting involved with cryptocurrencies like Bitcoin (BTC). That is, if the regulatory environment changes under President Donald Trump. In fact, earlier, sources close to the Republican said that he wants to see BTC at $150,000 by the beginning of his term.
According to David Solomon, who heads the institution founded in 1869, regulations in the United States (US) need to be more favorable. Only then would the asset manager enter the crypto industry.
Goldman Sachs CEO calls for regulatory change
Speaking at a Reuters conference on Tuesday (10), Solomon said the current regulatory framework needs to evolve to make investing directly in Bitcoin and Ethereum a viable option. He added that there is a lot of attention around the crypto space right now, but it is still unclear how regulations will change under the new US administration.
For now, our ability to operate in these (crypto) markets is extremely limited from a regulatory perspective, the CEO said.
According to the executive, although Goldman Sachs has explored digital assets, as a regulated financial institution, it cannot buy or sell cryptocurrencies like Bitcoin or Ethereum at the moment.
However, the firm does have significant holdings in Bitcoin ETFs. According to a Nov. 14 filing with the U.S. Securities and Exchange Commission (SEC), Goldman Sachs holds about $718 million across eight ETFs. The bank has made a $461 million investment in BlackRock’s Bitcoin ETF, among others.
Solomon's comments come as President-elect Donald Trump has promised a crypto-friendly administration.
With the appointment of crypto advocate Paul Atkins as head of the SEC, the chairman appears to be making good on his promises. The SEC now has a better chance of adopting a more friendly approach towards crypto investors.
Meanwhile, sources told Axios that Donald Trump would apparently “love” Bitcoin to continue rising and surpass $150,000 after he takes office.
It’s another stock market for him. Trump would love to see Bitcoin hit $150,000 early in his presidency, a White House transition source said.
This comes after the Republican took credit for Bitcoin's meteoric rise to a record $100,000 last week.
Congratulations, Bitcoiners! $100,000! You're welcome!!! Trump posted.
The article Goldman Sachs is eyeing Bitcoin and Trump wants BTC at $150,000 was first seen on BeInCrypto Brasil.
