Do not foget that many also were quizzicalwhen paper money displaced gold,” Goldman Sachs CEO, Blankfein added on last week
His observation follows a WSJ article that Goldman Sachs was checking a new investment operation dedicated to bitcoin and other cryptocurrencies in response to customers demand
The plan was in early stages and may not proceed, the WSJ added, citing sources familiar with the issue.
Blankfein’ comment is in full contrast to comments made by JPMorgan’s Chief Executive, Jamie Dimon, who defined bitcoin a “fraud”.
Speaking at a bank investor conference in New York last month, Dimon said, “The currency isn’t going to work. You can’t have a business where people can invent a currency out of thin air and think that people who are buying it are really smart.”
It is worse than tulips bulbs,” Dimon noted, referring to a mythical market bubble from the 1600s.