Know that folks also were vacillatingwhen paper money displaced gold," Goldman Sachs CEO, Blankfein remarked on Tuesday
His indication follows a WSJ report that the investment bank was researching a new investment operation dedicated to bitcoin and other cryptocurrencies in response to client demand
The plan was in early stages and may not proceed, the report noted, citing sources familiar with the matter.
Blankfein’ observation is in sharp contrast to comments made by JPMorgan’s CEO, 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 declared, referring to a famous market bubble from the 1600s.