‘Goldie’s’ Boss says, “Keep an open mind on Bitcoin”
$BTCUSD, $GS, $JPM
The plan is in early stages and may not proceed, the WS-T report on Monday, citing people familiar with the matter.
Blankfein’s tweet is in sharp contrast to comments made by JPMorgan Chase & Co (NYSE:JPM). CEO Jamie Dimon, who called Bitcoin a “fraud.”
Bitcoin is a digital currency that enables individuals to transfer value to each other and pay for goods and services bypassing banks. The market is fraught with volatility, with bitcoin prices topping nearly $5,000 in early September and then declining sharply after Chinese authorities said they would ban the process of raising funds through launches of token-based digital currencies.
“It is worse than tulips bulbs,” Mr. Dimon said, referring to a famous market bubble from the 1600’s.
Goldman’s arch rival Morgan Stanley spoke in favor of the currency, with CEO James Gorman calling it “more than just a fad.”
Former Fortress Investment Group LLC executive Mike Novogratz is also starting a $500-M hedge fund to invest in digital currencies like bitcoin.