Former Goldman Sachs CEO Reverses Stance on Bitcoin (BTC) and Crypto, Says Digital Assets Are Maturing

EX Goldman Sachs CEO Lloyd Blankfein says that his view of Bitcoin (BTC) and other cryptocurrencies has changed over the years.

Blankfein says in a CNBC interview that his view of cryptocurrencies is “evolving” as crypto assets make their mark in the world.

“Look my view of it [crypto] is evolving…

I can’t predict the future. But I think it’s a big thing to be able to predict the present, like what is happening. And I look at the crypto and it is happening.”

The former Goldman Sachs CEO says that despite crypto prices crashing and hundreds of billions of dollars evaporating, the positives of crypto and blockchain technology are evident.

“I’d say at the point now it’s lost a lot of value but at a point where it’s trillions of dollars of value contributing to it and the whole ecosystems are growing around it.

And of course, we have the benefits of instantaneous transfer and so reduction of credit risk and all the benefits of blockchain that a million people come on your show and talk about.

I may be skeptical but I’m also pragmatic about it. And so guess what, I certainly want to have an oar in that water.”

In November of 2017, while serving as the CEO of Goldman Sachs, Blankfein said that “maybe Bitcoin is a kind of a bubble” and that he wasn’t “comfortable” with it. Blankfein, however, left open the possibility that his views were wrong.

“If it works, I say to myself, ‘Hmmm, maybe that was a natural progression from hard money to fiat money to consensus money.’ So who’s to say.”

Blankfein made the remarks a day after Bitcoin hit a then-record high of around $7,416 on November 8th of 2017.

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