Consider that people also were doubtfulwhen paper money displaced gold,” Goldman Sachs CEO, Blankfein commented on Tuesday
His declaration follows a Wall Street Journal article that the investment bank was checking a new trading operation dedicated to bitcoin and other cryptocurrencies in response to traders interest
The plan was in early stages and may not proceed, the Wall Street Journal added, citing people familiar with the issue.
Blankfein’ announcement 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 remarked, referring to a famous fiancial bubble from the 1600s.