Lloyd Blankfein isn’t sure what to make of bitcoin.
While the Goldman Sachs Group Inc. chief executive officer says he isn’t willing to reject the digital currency just yet and doesn’t hold any investments in the digital coin, he can see a world in which bitcoin is a form of currency.
“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 said 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.”
The digital currency got new impetus this week after CME Group Inc., the world’s largest exchange owner, said it plans to introduce bitcoin futures by the end of the year, citing pent-up demand from clients. Skeptics including Themis Trading say the rally is evidence that the software-created asset is a bubble that should not be given regulatory cover.
The speculation around bitcoin is the “very definition of a bubble,” Credit Suisse Group AG CEO Tidjane Thiam said at a news conference in Zurich Thursday.
Source/More: Blankfein Says Don’t Dismiss Bitcoin – Bloomberg
