Do not foget that many also were scoffingwhen paper money displaced gold," Goldman Sachs Chief Executive, Blankfein mentioned on last week
His statement follows a WSJ article that the investment bank was exploring a new investment operation dedicated to bitcoin and other cryptocurrencies in response to client interest
The plan was in early stages and may not proceed, the WSJ added, citing sources familiar with the matter.
Blankfein’ claim 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 remarked, referring to a famous fiancial bubble from the 1600s.