David Solomon is the CEO of Goldman Sachs. This bank is one of the most renowned in the world. He has expressed his opinions on the Bitcoin vs Blockchain dilemma. Solomon believes that bitcoin is less important than the technological advances that blockchain implementation and other ledger-based tools can bring the traditional finance industry. He also stated that he does not own bitcoin or Ethereum personally.

Goldman Sachs CEO: Bitcoin

David Solomon is the CEO of Goldman Sachs Bank, one of the largest banks in the world. He explained that bitcoin for him is less important than its technology. The executive issued these statements in an interview on CNBC’s Squawkbox on Tuesday. Solomon replied

to questions about crypto.

My view on bitcoin is that I don’t know enough to know what it is, but it’s not something that I consider important.

He also argued that bitcoin’s true value lies in its technology, blockchain, and the impact it has on the future of finance. Solomon said that he believes in the disruption these technologies cause and that Goldman Sachs is trying to take part in it via its services app.

Solomon – ‘Bitcoin is Not the Key Thing ‘

Solomon stated that Bitcoin was not an essential component of the banking industry’s view. It was the impact of new technologies like bitcoin and other cryptocurrency that led to the modernization and improvement of existing banking platforms. Solomon stressed:

I think that bitcoin is not the most important thing. What can be done to accelerate digitization of financial services?

He did however state that bitcoin was a speculative asset and it was important for Goldman Sachs, to offer the currency to its customers to allow them to bet on market behavior.

In the last year, bitcoin (BTC) has been vindicated as a valid asset by several important banking institutions, including JPMorgan, which had criticized the true utility of bitcoin’s proposal several times in the past. The bank began offering cryptocurrency investments to its customers in the early part of this year. The critics of its CEO Jamie Dimon, who said bitcoin was worthless before, didn’t affect the ability of the bank to provide this kind of service to its customers.

What do you think about David Solomon’s “blockchain, not bitcoin” approach? Please leave your comments below.

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