Remember that folks also were dubiouswhen paper money displaced gold," Goldman Sachs Chief Executive, Blankfein announced on Tuesday
His tweet follows a WSJ post that GS was checking a new trading operation dedicated to bitcoin and other cryptocurrencies in response to client interest
The plan was in early stages and may not proceed, the report noted, citing sources familiar with the subject.
Blankfein’ claim is in major contrast to comments made by JPMorgan’s Chief Executive, Jamie Dimon, who called 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 claimed, referring to a famous market bubble from the 1600s.