Goldman Sachs CEO Foresees Bitcoin Use Case As Store Of Value

Goldman Sachs' CEO Highlights Bitcoin's Potential as a Store of Value

Goldman Sachs CEO David Solomon has predicted that Bitcoin (BTC) may have a future use case as a store of value. According to Ryan Rasmussen, Head of Research at Bitwise Invest, Solomon made this prediction at the Olympics on Tuesday.

Bitwise Invest CIO Matt Hougan reiterated the Goldman Sachs prediction, referring to Solomon as a "major believer" in Bitcoin. This view is shared by several other Wall Street executives, including the CEO of the world's largest asset manager.

Hougan also noted the success of MicroStrategy's Bitcoin accumulation strategy, highlighting the perception of cash as a depreciating asset and BTC as an appreciating asset. This shift towards cryptocurrencies has been driven by the belief that it can lead to a rise in stock value.

Despite the growing positive sentiment towards Bitcoin on Wall Street, events such as the Mt Gox payout and US Government BTC transfers continue to cast a shadow over the bullish outlook.