Consider that people also were in a dilemmawhen paper money displaced gold," Goldman Sachs CEO, Blankfein proclaimed on Tuesday
His observation follows a WSJ article that Goldman Sachs was researching 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 post added, citing people familiar with the subject.
Blankfein’ claim is in major contrast to comments made by JPMorgan’s Chief Executive, Jamie Dimon, who named 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 said, referring to a unforgetable market bubble from the 1600s.