Ample Money : Bitcoin Too Volatile for Goldman Sachs, Says CEO

Goldman Sachs CEO Lloyd Blankfein has said high volatility means it’s too early for the bank to consider a bitcoin strategy.

In an interview with  on Nov. 30, Blankfein said, if a cryptocurrency can rise or fall 20 percent in a day, it “doesn’t feel like a currency, doesn’t feel like a store of value.”

He continued:

“If it works out – and it gets more established, and it trades more like a store of value, and it doesn’t move up and down 20 percent, and there is liquidity to it – we’ll get to it.”

Blankfein’s comments follow recent statements from Goldman Sachs’s global head of commodities research, Jeff Currie, who on Wednesday that bitcoin is a commodity similar to gold, adding that the lack of liquidity is driving its volatility.

Last month, Blankfein also said that he is “.” However, he indicated he still has a “level of discomfort” with the cryptocurrency, as he does with anything new – a stance that was echoed in Wednesday’s Bloomberg interview.

image via Fortune Live Media/Flickr


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