From thinking about Bitcoin to being open to it, Lloyb Blankfein seems to be coming around.
Last month Blankfein made headlines when he tweeted that he was "thinking about bitcoin".
It was fairly cryptic but was a welcome response at a time when other investment bankers were outright condemning bitcoin/cryptocurrencies.
(I'm looking at you Jamie Dimon)
More on that tweet by Blankfein can be read here:
https://steemit.com/bitcoin/@jrcornel/lloyd-blankfein-still-has-bitcoin-on-his-mind
Now, it looks like Blankfein is coming around even more.
In an interview with Bloomberg, Blankfein was quoted as saying:
“I have a level discomfort with [bitcoin], as I have a level of discomfort with anything that’s new. But I’ve learned over the years that there’s a lot of things that work out pretty well that I don’t love.”
Not exactly a ringing endorsement just yet, but much softer words than that of Jamie Dimon calling it a fraud and something that his traders would be fired for trading.
In fact it looks like Blankfein may be looking to hire some bitcoin traders in the near future as opposed to firing them as Goldman is very strongly considering offering bitcoin related products to their customers in the near future.
Blankfein is not going to let his personal reservations get in the way of potentially disruptive technology, and probably more importantly, profits for his firm.
The future of money?
That is far from decided, but Blankfein was unwilling to bet against it.
He even offered these thoughts:
"Maybe in the new world, something gets back by consensus. Instead of a government fiat, maybe it’s a consensual arrangement by people that agree that it’s worth something."
Now that would be interesting...
Not comfortable but not willing to go against it?
Blankfein said he wasn't completely comfortable with it yet, but he knows it's not smart to stand in the way of disruptive technology.
He also said that he could see how we could get to the point where something like bitcoin eventually takes over.
He expanded on those thoughts a bit in the interview, saying:
“If we went into the future and bitcoins were successful, I would be able to explain how it was a natural evolution from hard money."
So, basically he is saying that it makes sense to him.
“Maybe 200 years from now even someone like me might be comfortable with it, but right now, I tell you: I don’t have an investment in it, but I’m not willing to pooh-pooh it and that’s why I say I’m open to it."
There you have it.
One of the most powerful CEO's on Wall Street is open to bitcoin, though admittedly he's not its biggest cheerleader.
That is great news for bitcoin bulls and crypto enthusiasts alike. I would not be surprised to see Goldman offering some form of bitcoin derivatives or bitcoin trading product at some point in 2018.
In fact that is one of the bigger bitcoin rumors circulating around Wall Street right now.
Stay informed my friends.
Sources:
https://www.cryptocoinsnews.com/im-open-to-bitcoin-goldman-sachs-ceo-lloyd-blankfein/
Image Sources:
https://news.bitcoin.com/goldman-sachs-ceo-lloyd-blankfein-latest-exec-flirt-bitcoin/
http://kingsreview.co.uk/articles/bitcoins-utopianism-and-the-future-of-money/
http://www.paraanaliz.com/intelligence/goldman-sachs-private-sector-exhausted-government-will-finance-external-deficit/
Follow me: @jrcornel