‘Perhaps bitcoin is a type of a bubble,’ Goldman Sachs CEO Blankfein states

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Kayla Tausche, he stated that “perhaps bitcoin is a kind of a bubble,” including: “I don’t like it. I’m not comfortable with it.”

Blankfein’s reason for not trusting the cryptocurrency is easy, he stated: “I’m sort of an old dog to be soaking up that sort of a brand-new trick.”

Bitcoin has actually skyrocketed more than 600 percent this year. On Thursday, the cryptocurrency traded down 3.9 percent at $7,172.80, but remained near a record high.

Lloyd Blankfein, chairman and chief executive officer of Goldman Sachs Group

Michael Nagle|Bloomberg|Getty Images Lloyd Blankfein, chairman and president of Goldman Sachs Group The digital currency has already been embraced by a few of Wall Street’s most widely known figures, including investing legend Expense Miller. It has actually been criticized, nevertheless, by Blankfein’s peers on Wall Street in JPMorgan Chase CEO Jamie Dimon and BlackRock CEO Larry Fink.But Blankfein

did not say the digital currency would stop working, noting that “the list of things that are traditional today that I use every day that I believed would never ever make it is a very long list.”

“If it works, I state to myself, ‘Hmmm, maybe that was a natural progression from difficult cash to fiat money to consensus money.’ Who’s to say.”