Goldman Sachs Chief Executive is aim at Bitcoin

 Know that people also were in a quandarywhen paper money displaced gold,"  Goldman Sachs CEO, Blankfein observe on Tuesday

His comment follows a WSJ post that the investment bank was studying a new trading operation dedicated to bitcoin and other cryptocurrencies in response to client demand

The plan was in early stages and may not proceed, the  report noted, citing sources familiar with the matter.

Blankfein’ comment is in big contrast to comments made by JPMorgan’s CEO,  Jamie Dimon, who named bitcoin a "fraud".

Speaking at a bank investor conference in New York last month, Dimon said, "The currency isn’t going to work. You can’t have a business where people can invent a currency out of thin air and think that people who are buying it are really smart."

It is worse than tulips bulbs," Dimon remarked, referring to a well known fiancial bubble from the 1600s.