Goldman Sachs’ CEO, Lloyd Blankfein, recently voiced his stance on bitcoin via Twitter, clarifying that he’s still undecided about the cryptocurrency. Blankfein is the latest in a string of Wall Street executives weighing in on the number one cryptocurrency, bitcoin.
In his tweet, the CEO stated that he’s still thinking about bitcoin, and compared the skepticism people have towards it to the skepticism people had towards paper money when it first started displacing gold.
Still thinking about #Bitcoin. No conclusion – not endorsing/rejecting. Know that folks also were skeptical when paper money displaced gold.
— Lloyd Blankfein (@lloydblankfein) October 3, 2017
The move comes in response to a Wall Street Journal report on Goldman Sachs starting a new bitcoin trading operation. Although Blankfein didn’t mention the report in his tweet, he did make it clear that he hasn’t reached a decision yet and, as such, odds are the bank isn’t going to launch a bitcoin trading operation for now.
Blankfein’s comments are in sharp contrast with those of JP Morgan’s chief executive, Jamie Dimond, who last month stated that bitcoin was a “fraud” while speaking at a banking conference in New York. He argued that bitcoin would eventually “be closed” and stated that he would fire any employee trading in the cryptocurrency, because it was both against the bank’s rules, and “stupid.”
Jamie Dimon’s comments led a bitcoin market maker, Blockswater, to file a market abuse report with the Swedish Financial Supervisory Authority against the CEO, for “spreading false and misleading information” about the cryptocurrency. Jamie Dimon then swung at bitcoin again, saying it was “worth nothing.”
Morgan Stanley’s CEO, James Gorman, has also recently shared his opinion on the cryptocurrency. Gorman stated that bitcoin is certainly “more than just a fad,” and added that the concept of an anonymous currency is a very interesting one.
The banking world’s struggles come at a time in which its clients are showing incredible interest in the cryptocurrency, so much so that JP Morgan bought €3 million in bitcoin ETNs after its CEO made his comments.
Meanwhile, other financial titans have already made up their mind about bitcoin and cryptocurrencies. Fidelity’s Abigail Johnson has revealed that she even has a mining rig in her office, and that she’s a believer in bitcoin. In a recent conference, she stated:
“I’m one of the few standing before you today from a large financial services company that has not given up on digital currencies. We set up a small Bitcoin and Ethereum mining operation . . . that miraculously now is actually making a lot of money.”