Speaking to Eyes on the Game's Helen Lee, during the Olympia Expo, Goldberg was asked about Velasquez and his recent transition to professional wrestling for Mexico's AAA promotion.
"Cain is doing great," Goldberg said. "I saw a little bit of the coverage from his match but put it this way. Anyone in professional sports who was in that sport for a life-long dream like myself played football was all I ever wanted to do, it's a great alternative.
"The wrestling business offers a lot, it really does. For guys who are high-level professional athletes to try and make the transition especially with what Cain knows and what he's done in the past that's a perfect easy transition.
"I'm not going to say easy, but it's easier than someone who's never done something like that before. I don't know Cain but it's nice to see a guy like that face adversity in one's business and then find pleasure in another, as a human being I'm happier than hell for him.
The WWE Hall of Famer was then asked if he would wrestle Velasquez.
"I'd smash him in the ring," Goldberg said. "I'd wrestle Cain in the ring in two seconds. I'd wrestle anybody. He's got a lot of potential. Look at Ken Shamrock, he was the first guy to make that transition and to be able to blend the forms of MMA into wrestling.
"You see fighters who have over the top characters and they're perfect to make the transition to wrestling.
"[WWE] welcomes anybody because competition only makes you better."
The Bro of NXT made the news earlier this summer after taking several shots at Goldberg on Twitter and in interviews, calling him the worst pro wrestler in the business at one point. Riddle also revealed that Goldberg has had him blocked on Twitter for some time due to comments Riddle made over the years. It was reported back in June that WWE officials were not upset with Riddle's anti-Goldberg comments.
Goldberg was asked whether there was any tension between himself and Riddle recently.
"Matt who?," Goldberg said. "I don't even know who that is. I don't answer questions about people who haven't made it yet. Riddle has a long way to go."
If you use any of the quotes in this article, please credit Helen Yee Sports with an H/T to Wrestling Inc. for the transcription.