The chief executive of Goldman Sachs has stated that the bank does not need a bitcoin strategy as he remains unconvinced about the use of the cryptocurrency. Speaking on Bloomberg television today, Lloyd Blankfein said he had little interest in the digital currency, which overnight was subject to 20% price swings due to a technical glitch. “When do I have to have a bitcoin strategy? Not today,” said Blankfein. “Life must be really rosy if that is what we are talking about.” Earlier this month, the bank CEO said he had “a level of discomfort with [bitcoin]”, due to its relatively new arrival. Today he said: “Bitcoin is not for me. A lot of things that have not been for me in the past 20 years have worked out… but I am not guessing that this will work out.” Blankfein appeared on the TV show alongside former New York City mayor Mike Bloomberg to discuss the impact of proposed US tax cuts on small businesses. Bloomberg said many people confused the cryptocurrency with the technology blockchain — a type of distributed ledger which underpins digital currencies. Read more here…

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