Goldman Sachs CEO David Solomon has disclosed that he holds bitcoin among his personal investments, marking a notable admission from a Wall Street leader who has previously expressed skepticism about the cryptocurrency. Speaking at the World Liberty Forum at Mar-a-Lago in Florida, Solomon revealed that he owns a “very, very limited” amount of the digital asset, though he did not specify the exact holdings or how long he has maintained the position.
The revelation comes despite Solomon’s historically cautious stance on bitcoin. In 2024, the Goldman Sachs chief described bitcoin as a speculative asset lacking a genuine use case. He has also downplayed concerns that the cryptocurrency could pose a threat to the US dollar’s dominance in global finance.
Goldman Sachs CEO Describes Limited Bitcoin Holdings
During his address at the forum, Solomon characterized himself as an observer of cryptocurrency rather than a forecaster. According to the executive, understanding digital assets has become increasingly important as blockchain technology continues to intersect with traditional finance and banking operations.
However, Solomon’s personal investment does not necessarily signal a major strategic shift for Goldman Sachs. The investment bank has been slower to embrace cryptocurrency compared to some of its competitors on Wall Street.
Goldman’s Cautious Approach to Digital Assets
While Solomon previously stated that Goldman Sachs has assembled a team to assess stablecoin implementation, the bank has not moved as aggressively into the crypto space as rivals. JPMorgan, for instance, has launched tokenized offerings for clients and created its own JPM Coin for blockchain-based transactions.
Additionally, Goldman Sachs has not yet announced major cryptocurrency trading desks or custody services comparable to those offered by other major financial institutions. The bank’s approach remains measured despite growing institutional interest in digital assets.
Regulatory Environment and Capital Concerns
In his remarks at the World Liberty Forum, Solomon also addressed the regulatory landscape affecting financial services. He criticized what he characterized as excessive regulation over recent years, arguing that such measures extract capital from the financial system.
“When you burden this system with excessive regulation, you start to extract capital,” Solomon said, according to reports from the event. “That absolutely happened in the last five years.”
Meanwhile, the Trump administration has prioritized easing regulations on the cryptocurrency industry, a move that initially spurred growth for bitcoin and other digital assets. However, market conditions have shifted dramatically since the initial regulatory optimism.
Bitcoin Price Struggles After Record High
The cryptocurrency market has faced significant headwinds in recent months. Bitcoin reached an all-time high last October but has since entered a prolonged downturn, with prices declining nearly 50% from peak levels.
On Wednesday, bitcoin continued to struggle for momentum, trading at approximately $66,500, down about 1% for the day. The decline reflects broader uncertainty in cryptocurrency markets despite efforts to create a more favorable regulatory environment.
In contrast, Solomon’s admission that he holds bitcoin, even in limited quantities, suggests that some traditional finance executives maintain at least nominal exposure to digital assets. The disclosure also highlights the ongoing tension between institutional skepticism and personal curiosity about cryptocurrency investments.
The financial community will likely watch for any further comments from Solomon or announcements from Goldman Sachs regarding cryptocurrency strategy in the coming months. The bank has not indicated whether it plans to expand its digital asset offerings or services beyond its current exploratory efforts with stablecoins.
