Keep in mind that people also were mistrustfulwhen paper money displaced gold," Goldman Sachs Chief Executive, Blankfein heralded on Tuesday
His observation follows a Wall Street Journal article that GS was checking a new investment operation dedicated to bitcoin and other cryptocurrencies in response to investors demand
The plan was in early stages and may not proceed, the report noted, citing people familiar with the subject.
Blankfein’ tweet is in full contrast to comments made by JPMorgan’s CEO, 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 unforgetable fiancial bubble from the 1600s.