Remember that folks also were mistrustfulwhen paper money displaced gold," Goldman Sachs CEO, Blankfein responded on last week
His tweet follows a WSJ article that the investment bank was exploring a new trading 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 people familiar with the issue.
Blankfein’ comment is in sharp 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 remarked, referring to a historical fiancial bubble from the 1600s.