Shares of Goldman are about flat for the year but they are up 37 percent over the last 12 months, after getting a big post-election boost last November and December. Trump’s promise to deregulate the financial industry, cut corporate taxes and spend on infrastructure were all seen as a positive for big banks.
On Thursday, Goldman shares traded down 1.29 percent. Earlier this week, Goldman reported third-quarter profit of $5.02 a share, beating the $4.17 expected by analysts.
Goldman is examining a possible trading operation for bitcoin after clients began asking about the cryptocurrency. While JPMorgan Chase CEO Jamie Dimon called bitcoin a “fraud,” Blankfein said on Twitter earlier this month: “not endorsing/rejecting. Know that folks also were skeptical when paper money displaced gold.”
Solomon confirmed Goldman was looking at bitcoin because of heightened client interest, saying the bank wants to make sure it’s in a position to work with clients as they figure out what they want to do in the world of cryptocurrency.
“When our clients are asking about something, we’re focused on it,” he said.