Goldman Sachs CEO expects “big breakthrough” in cryptocurrencies and cites regulations

Charlie Taylor

In an April 6 interview on CNBC's "Squawk Box", David Solomon, CEO of Goldman Sachs, predicted that there would be "a big evolution" among cryptocurrencies in the coming years when asked whether he would like to lobby for regulations for American lawmakers.

This is a space that is evolving … I think there will be a big evolution in the way that it will evolve in the coming years.

Despite the “significant” regulatory hurdles, Goldman Sachs is looking for ways to support cryptocurrencies for its customers due to the growing increase in demand. Solomon went so far as to say that his bank thinks of crypto assets "proactively." Similarly, Goldman's director of digital assets, Mary Rich, says investors are looking to cryptocurrencies as a protection against inflation or as the new Internet:

There is a contingent of customers who are looking at this asset as a hedge against inflation, and last year's macro scenario certainly contributed to this. There is also a large contingent of customers who, in some way, feel that we are at the beginning of a new Internet and are looking for ways to participate in this space.

Read more: Goldman Sachs announces services with Bitcoin and cryptocurrencies in the second quarter


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Mary also told CNBC that the bank plans to launch services for Bitcoin investment as early as the second quarter of 2022, in addition to interest in other financial products involving cryptocurrencies. Goldman decided to give its cryptocurrency trading desk one more chance last month, after filing it in 2018. One of the leading U.S. banks is also venturing into the custody of digital assets. Goldman also filed a document with the U.S. Securities and Exchange Commission, requesting permission to create an ETF for the exhibition to the crypto market.Read more: XRP reaches a price of 1 dollar, up 76% in the week and recovering the TOP 4

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