Lloyd Blankfein told Bloomberg that only when the cryptocurrency does not rise or fall so abruptly will they invest in it.
The general manager of investment banking group Goldman Sachs, Lloyd Blankfein, said the high volatility of Bitcoin means that it is too early for the bank to consider an investment strategy with cryptocurrency.
In an interview with Bloomberg yesterday, November 30, Blankfein said that if a cryptocurrency can go up or down by 20% in a day, "it does not feel like a coin, it does not feel like a store of value."
He continued:
If it works, it becomes more established, it is negotiated more as a reserve of value, it does not go up or down by 20% and there is liquidity, we will reach it ".
Blankfein's comments follow recent statements by Goldman Sachs' global head of commodities research, Jeff Currie, who said on Wednesday that Bitcoin is a product similar to gold, adding that the lack of liquidity is driving its volatility.
In early November, Blankfein also said he is "open to Bitcoin." However, he indicated that he still has a "level of discomfort" with the cryptocurrency, as he does with anything new, a position that was echoed in the Bloomberg interview.
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And volatility is a bad thing?
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