Goldman Sachs CEO “thinking” about Bitcoin has received advice he should look at Ethereum instead.
Goldman Sachs CEO Lloyd Blankfein has said he’s “still thinking” about Bitcoin as the cryptocurrency community suggests he “understands” Ethereum.
In a rare tweet Tuesday, Blankfein said that when fiat currency displaced gold, consumers were “skeptical,” hinting Bitcoin may be in a similar position in 2017.
“No conclusion – not endorsing/rejecting,” he wrote about the number one virtual currency.
“Know that folks also were skeptical when paper money displaced 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
His tone marks a stark contrast to that taken by similar industry figures, notably JPMorgan CEO Jamie Dimon, who last month described Bitcoin as a “fraud.”
Responding to what was clearly perceived as a positive stance on Bitcoin despite Blankfein’s disclaimer, ConsenSys engineer Andrew Keys wasted no time in advising him on the need to “understand” Ethereum.
“[…] You need to understand [Ethereum]. It’s exponentially more useful than bitcoin,” he wrote.
What will result from Blankfein’s “thinking” meanwhile is pure speculation.
Goldman nonetheless announced this week it was mulling the idea of allowing investors direct trading opportunities for Bitcoin. This caps a string of more encouraging activities related to cryptocurrency in general, the financial giant clearly keen to keep tabs on the potential of the explosive market.
The trading hint comes as Goldman’s traditional fiat desk reported a massive 40% drop in bond trading revenue for Q2 this year.
