Blankfein Says Don’t Dismiss Bitcoin


When it involves bitcoin, Lloyd Blankfein is beginning to sound like a sure Danish prince.

While the Goldman Sachs Group Inc. chief govt officer says he isn’t keen to reject the digital foreign money simply but and doesn’t maintain any investments within the digital coin, he can see a world during which bitcoin is a type of foreign money.

“I read a lot of history, and I know that once upon a time, a coin was worth $5 if it had $5 worth of gold in it,” Blankfein stated in an interview Thursday with Bloomberg TV. “Now we have paper that is just backed by fiat…Maybe in the new world, something gets backed by consensus.”

Blankfein tweeted final month that whereas the was “still thinking” about bitcoin, folks had been as soon as skeptical of paper cash as nicely.

“I’ve learned over the years that there’s a lot of things that workout pretty well that I don’t love,” he stated as we speak. Bitcoin definitely has been doing nicely in 2017, rising greater than 600 % for the reason that begin of the 12 months and surpbading $7,000 for the primary time.

Lloyd Blankfein on bitcoin throughout an interview with Bloomberg’s David Westin

Source: Bloomberg

And the Goldman Sachs CEO isn’t the one one pulling a Hamlet act over bitcoin. What was as soon as dismissed by Wall Street as a speculative bubble has been instantly arising extra often, each in optimistic and damaging tones. JPMorgan Chase & Co. CEO Jamie Dimon famously stated that he would fireplace any dealer who started buying and selling bitcoin.

“I don’t have an investment in it, but I’m not willing to pooh-pooh it and that’s why I say I’m open to it,” he concluded.

— With help by Andrew Dunn

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