“Bitcoin is too volatile for Goldman Sachs,” says CEO

Goldman Sachs Chief Executive Lloyd Blankfein said the high volatility of cryptocurrencies meant it was too early for banks to consider them seriously. In an interview with Bloomberg on November 30, Blankfein said: “If the value of a cryptocurrency can rise or fall by 20 percent in just one day, it cannot be called a currency and cannot be perceived as a store of value.”

He continued: "If cryptocurrencies develop enough, become more stable, if they stop sliding up and down by 20 percent every day - they become a liquid medium - then, of course, we will get to them. As for Bitcoin, there have already been three cases of hyperinflation this year, its value has fallen by more than 25 percent within a couple of days. I think at this stage it should in no way be considered as a serious currency."


However, Bitcoin is much less volatile than 6 years ago. And its supporters tend to believe that it will become even less volatile once the ecosystem for comfortable working with Bitcoin develops properly.  

Last month, Blankfein also said he was "open to bitcoin." However, he indicated that he still feels “a certain level of discomfort” when dealing with cryptocurrency. 

According to https://www.coindesk.com