Erik Voorhees:  And the tides washed over every bank in the land, for they sat idle, comfortable, and confident, while the world changed around them.

Pomp:  The CEO of a bank saying he doesn’t own Bitcoin or Ethereum, along with having no view is absurd. The crypto industry has been the fastest growing financial technology in history and he has no opinion?

When asked has the Soloman family changed its view on crypto? Do you own Bitcoin or Ethereum?  I don’t personally own Bitcoin or Ethereum and I don’t have a strong view, when you said change my view – I don’t know what you think my view is – My view on Bitcoin for example is I really don’t know.

But it is really not something individually important to me. I am a big believer in the digitization that is occurring and this eruption that is occurring in the way financial services are delivered as I said for both institutions and for individuals.  I think it is a massive shift, we are trying to participate in it, based on what we are doing around Goldman Sachs Marcus and our digital banking platform.

The key thing is how can blockchain or other technologies will accelerate the pace of the digitization of the way financial services are delivered. I just talked to you about out digital bank – you know that we just made an announcement. How did AWS reinvent about the platform the financial cloud that we are building partnership with AWS for institutional clients? All of that is the changing of the digital processes that kind of lubricate the way financial services are delivered and I think that is a big opportunity.

You want your clients in it? I want out clients to do what they think they want to do as a speculative asset if it is interesting and some of our clients are participating – absolutely, but whether it goes up or down my guess is look at the last week it is going to go up, it is going to go down. I don’t know what the permanent state of bitcoin is, but I think Bitcoin is really not the key thing.

Community Reaction:  It’s the blockbuster scenario, they know the writing is on the wall. They know adapting will only destroy their old business faster so they choose to ignore it and refuse to change course.

When you make the kind of fiat bank these guys do no need to look elsewhere to protect from inflation or generate yields. Their returns come in the form of cash, stock and options for which they leverage their firms to the rafters for buybacks. Same playbook.

Good grief. Someone who hasn’t purchased at least a few sats and some ETH on an exchange should just not say anything about money. Meta commentary.

Now all that is left for them is: 1. To keep it’s clients 2. Really fast financial payments (and settlements). Wow! It would be such a waste to use Bitcoin (& it’s ledger) as a gigantic web update.

“I have no view on the thing that’s in direct competition with me and my company, but look how cool digital is…sign up for Goldman Sachs Marcus ” Bankers still talking about digitization in 2021 when 90%+ of their transactions are digital are done. Clueless.