Bitcoin: Goldman Sachs CEO Says 'There May Be a Case for Store of Value'

IconCryptoNewsTerminal Staff30 Jul, 2024

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Bitcoin: Goldman Sachs CEO Says 'There May Be a Case for Store of Value'

Goldman Sachs CEO David M. Solomon believes there is a plausible store of value argument for Bitcoin (BTC). In a recent interview with CNBC, Solomon hinted that he has become more optimistic about the cryptocurrency. When asked about the possibility of holding Bitcoin in reserves as a store of value, akin to gold reserves, he said: "I've always said that I think Bitcoin is a speculative investment. Because I don't see a use case for it." However, he added: "There may be a case for store of value. But I think people have to be very clear-eyed about what it is. It's a speculative investment. There's no cash flow. There's no yield. You just have to hope that somebody else is going to come along and buy it from you for more than you paid for it."

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