{"id":3849,"date":"2024-12-06T17:04:53","date_gmt":"2024-12-06T17:04:53","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=3849"},"modified":"2024-12-06T17:04:53","modified_gmt":"2024-12-06T17:04:53","slug":"ex-goldman-sachs-ceo-believes-bitcoin-could-rival-us-dollar-as-reserve-currency","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=3849","title":{"rendered":"Ex-Goldman Sachs CEO Believes Bitcoin Could Rival US Dollar As Reserve Currency"},"content":{"rendered":"
\n

In a post shared on Thursday via X, Lloyd Blankfein, the former Chief Executive Officer of Goldman Sachs, acknowledged a potential competitive dynamic between Bitcoin and the US dollar in the context of global reserve currencies. Blankfein, who previously held skeptical views on digital assets, acknowledged that BTC\u2019s growth may place it in direct competition with America\u2019s longstanding monetary hegemony.<\/p>\n

Referencing US President-elect Donald Trump\u2019s plans to establish a strategic Bitcoin reserve, Blankfein wrote<\/a>: \u201cTrump correctly spoke to the importance of defending the dollar\u2019s exclusivity as the world\u2019s reserve currency. Helps US trade, financing our deficit, driving US policy choices on our enemies and frenemies. So why is the new admin so bent on promoting BITC?\u201d<\/p>\n

Reactions From The Bitcoin Community<\/h2>\n

Pierre Rochard, Vice President of Research at publicly listed mining firm Riot Platforms (NASDAQ: RIOT), publicly noted<\/a> via X: \u201cBREAKING: Lloyd Blankfein, former Goldman Sachs CEO, believes that the US dollar and BITCOIN are actually competing against each other to be world\u2019s reserve currency.\u201d<\/p>\n

John Haar, who leads Private Client Services at Swan and previously served as a Wall Street portfolio manager and institutional investor for 13 years, offered a counter-perspective to Blankfein via X: \u201cMaybe they aren\u2019t so mutually exclusive? It\u2019s likely that the USD\/Treasuries will continue in their role as dominant global reserve currency\/asset\u2026 even as Bitcoin continues to grow in market cap and adoption. Also related, why does any government hold gold reserves?\u201d<\/p>\n

Similarly, Matthew Pines, a National Security Fellow at the Bitcoin Policy Institute, framed BTC\u2019s expansion as aligned with broader US strategic interests: \u201cBitcoin aligns directly with US geoeconomic interests to contain China\u2019s digital authoritarianism, buttress the Treasury-Dollar system, and reinforce our values around the world.\u201d<\/p>\n

David Marcus, CEO and co-founder of Lightspark and formerly a key figure in Meta\u2019s digital asset initiatives, downplayed the notion that BTC threatens the dollar\u2019s supremacy: \u201cBitcoin is not a threat to the dollar\u2019s supremacy. It won\u2019t compete as a unit of account for every day payments. It\u2019s a digital version of gold with 100x more utility and will be used as a neutral digital settlement asset between systems & currencies. BTC will make USD stronger.\u201d<\/p>\n

Eric Weiss, CEO of Bitcoin Investment Group, echoed Marcus\u2019s sentiment, stating: \u201cBitcoin will help underpin and proliferate the USD globally. Truly synergistic.\u201d<\/p>\n

Blankfein\u2019s current stance fits with his previous position on BTC and cryptocurrencies. In 2021, he publicly questioned Bitcoin\u2019s viability as a store of value and suggested that regulators should be deeply concerned about its rise. At the time, he commented: \u201cI may be skeptical, but I\u2019m also pragmatic about it. And so guess what? I would certainly want to have an oar in that water.\u201d<\/p>\n

By January 2022, Blankfein\u2019s position had begun to evolve. In an appearance on CNBC\u2019s \u201cSquawk Box,\u201d he emphasized the growing maturity of the Bitcoin ecosystem, noting: \u201cLook, my view of it is evolving. I can\u2019t predict the future, but I think it\u2019s a big thing to be able to predict the present, like, \u2018What is happening?\u2019 And I look at the crypto, and it is happening.\u201d Blankfein clarified that by \u201chappening,\u201d he was referring to the overall market maturation.<\/p>\n

At press time, BTC traded at $97,793.<\/p>\n

\"Bitcoin<\/div>\n","protected":false},"excerpt":{"rendered":"

In a post shared on Thursday via X, Lloyd Blankfein, the former Chief Executive Officer of Goldman Sachs, acknowledged a potential competitive dynamic between Bitcoin and the US dollar in the context of global reserve currencies. Blankfein, who previously held skeptical views on digital assets, acknowledged that BTC\u2019s growth may place it in direct competition […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-3849","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/3849","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3849"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/3849\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3849"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3849"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3849"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}