The world of cryptocurrencies is in a frenzy following the remarks made by Goldman Sachs CEO David Solomon at the Olympics in Paris. Solomon talked about Goldman Sachs and its policies in an interview with CNBC’s Squawk Box.
He also talked about how likely it is that the Federal Reserve will lower interest rates this year.One of the most discussed topics was Bitcoin, the most popular cryptocurrency.
Solomon said that Bitcoin is just a speculative asset that has no real use, but he also said that it might be useful as a way to keep value. This admission has sparked significant discussion on CryptoX, a renowned platform that specializes in cryptocurrencies.
Bitcoin Prompts Samson Mow
Ryan Rasmussen, head of research at Bitwise, shared Solomon’s comments. This prompted Bitcoin maximalist and JAN3 CEO Samson Mow to respond. When Mow replied, he used a GIF meme from “Game of Thrones” that said “Bend the knee” and said, “I don’t make the rules.” Mow’s comment shows that he thinks Bitcoin will become a major government asset in the future.
In a series of earlier posts, Mow told X that he thought BTC could hit an remarkable $1 million in the next year. He thinks that more organizations will start to buy BTC because it is becoming more of a strategic tool.
Michael Saylor, who is the executive chairman of MicroStrategy and a strong supporter of BTC, also added to the conversation. He talked about recent news from the BTC 2024 meeting, where several companies said they were going to add BTC to their balance sheets, just like MicroStrategy.
As these events have occurred, the price of Bitcoin has experienced significant fluctuations. BTC has lost 5.8% in the last two days, going from having just returned $70,000 to $65,770.
There was a drop in Bitcoin value after the U.S. government sent several billion dollars worth of Bitcoin that it had taken from the Silk Road dark web market. The price of BTC has slightly increased again and is now trading at $66,300.
