Dollar

Bitcoin

Reserve

Former Goldman Sachs CEO Lloyd Blankfein recently highlighted the emerging competitive dynamics between <a href="https://yellow.com/asset/btc">Bitcoin</a> and the US dollar as global reserve currencies. This marks a significant evolution from his prior skepticism about digital assets, suggesting Bitcoin’s growth may challenge America's enduring monetary dominance. 
Blankfein’s <a href="https://bitcoinist.com/ex-goldman-sachs-ceo-bitcoin-rival-us-dollar/">remarks</a> come in the wake of US President-elect Donald Trump’s proposal for a strategic Bitcoin reserve. He stated, "Trump correctly emphasized the importance of protecting the dollar’s unique status as the world’s reserve currency. It's crucial for US trade, deficit financing, and geopolitical strategies. So why is the new administration promoting Bitcoin?" 
Pierre Rochard, Vice President of Research at Riot Platforms, noted on social media: "BREAKING: Lloyd Blankfein now views the US dollar and Bitcoin as contenders for the world’s reserve currency title." 
Countering Blankfein, John Haar, from Swan’s Private Client Services, speculated that both currencies could coexist. He stated, "USD/Treasuries will likely remain the leading global reserve. Meanwhile, Bitcoin’s market and adoption grow. Plus, why do governments hold gold reserves?" 
Matthew Pines from the Bitcoin Policy Institute concurred, arguing that Bitcoin aligns with US geoeconomic priorities, helping counter China's digital strategies and supporting the Treasury-Dollar ecosystem. 
Meanwhile, Lightspark CEO David Marcus downplayed Bitcoin as a threat to the dollar’s dominance. He explained, "Bitcoin won’t rival the dollar for everyday transactions. It's akin to digital gold, offering higher utility and serving as a neutral settlement medium among systems. BTC could strengthen the USD." 
Eric Weiss of Bitcoin Investment Group agreed with Marcus, asserting, "Bitcoin supports and spreads USD globally. They are synergistic." 
Blankfein’s recent insights align with his evolving view on cryptocurrencies. In 2021, he questioned Bitcoin's reliability as a store of value and urged regulatory scrutiny, remarking, "While skeptical, I am pragmatic. I want a stake in it." 
By January 2022, Blankfein acknowledged Bitcoin’s maturing ecosystem on CNBC, noting, "My perspective is changing. Predicting the present is key, and crypto’s maturity is undeniable."

Bitcoin Could Replace Dollar as Reserve Currency, Says Ex-Goldman CEO

Yellow News

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