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From 'fraud' to 'bubble': Wall Street sizes up Bitcoin

"Something that moves up and down 20 percent in a day doesn't feel like a currency, doesn't feel like a store of value," said Goldman Sachs CEO Lloyd Blankfein.

REUTERS/Brendan McDermid

"Something that moves up and down 20 percent in a day doesn't feel like a currency, doesn't feel like a store of value," said Goldman Sachs CEO Lloyd Blankfein. REUTERS/Brendan McDermid

"Something that moves up and down 20 percent in a day doesn't feel like a currency, doesn't feel like a store of value," said Goldman Sachs CEO Lloyd Blankfein. REUTERS/Brendan McDermid
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The CEO of JPMorgan Jamie Dimon said bitcoin "is a fraud" and it will blow up. "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."

REUTERS/Dylan Martinez

The CEO of JPMorgan Jamie Dimon said bitcoin "is a fraud" and it will blow up. "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...more

The CEO of JPMorgan Jamie Dimon said bitcoin "is a fraud" and it will blow up. "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." REUTERS/Dylan Martinez
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BlackRock CEO Larry Fink labeled the cryptocurrency as a mean for money laundering: "Bitcoin just shows you how much demand for money laundering there is in the world," CNBC quoted Fink as saying. 

REUTERS/Lucas Jackson

BlackRock CEO Larry Fink labeled the cryptocurrency as a mean for money laundering: "Bitcoin just shows you how much demand for money laundering there is in the world," CNBC quoted Fink as saying. REUTERS/Lucas Jackson

BlackRock CEO Larry Fink labeled the cryptocurrency as a mean for money laundering: "Bitcoin just shows you how much demand for money laundering there is in the world," CNBC quoted Fink as saying. REUTERS/Lucas Jackson
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Credit Suisse Chief Executive Tidjane Thiam was skeptical about the bitcoin "bubble": "Bitcoin presents a number of challenges... I think most banks in the current state of regulation have little or no appetite to get involved in a currency which has such anti-money laundering challenges."

REUTERS/Denis Balibouse

Credit Suisse Chief Executive Tidjane Thiam was skeptical about the bitcoin "bubble": "Bitcoin presents a number of challenges... I think most banks in the current state of regulation have little or no appetite to get involved in a currency which has...more

Credit Suisse Chief Executive Tidjane Thiam was skeptical about the bitcoin "bubble": "Bitcoin presents a number of challenges... I think most banks in the current state of regulation have little or no appetite to get involved in a currency which has such anti-money laundering challenges." REUTERS/Denis Balibouse
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In 2014, billionaire investor Warren Buffett told CNBC that bitcoin was a "mirage" and warned investors to "stay away from it."

REUTERS/Rick Wilking

In 2014, billionaire investor Warren Buffett told CNBC that bitcoin was a "mirage" and warned investors to "stay away from it." REUTERS/Rick Wilking

In 2014, billionaire investor Warren Buffett told CNBC that bitcoin was a "mirage" and warned investors to "stay away from it." REUTERS/Rick Wilking
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Bitcoin is in a bubble and its fair value should be around $100, Katsunori Sago, chief investment officer of Japan Post Bank said.

REUTERS/Issei Kato

Bitcoin is in a bubble and its fair value should be around $100, Katsunori Sago, chief investment officer of Japan Post Bank said. REUTERS/Issei Kato

Bitcoin is in a bubble and its fair value should be around $100, Katsunori Sago, chief investment officer of Japan Post Bank said. REUTERS/Issei Kato
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Investor Mike Novogratz said that mainstream institutional investors are about six to eight months from adopting bitcoin.

REUTERS/Andrew Kelly

Investor Mike Novogratz said that mainstream institutional investors are about six to eight months from adopting bitcoin. REUTERS/Andrew Kelly

Investor Mike Novogratz said that mainstream institutional investors are about six to eight months from adopting bitcoin. REUTERS/Andrew Kelly
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"Conceptually digital currencies are an interesting thing," said Luke Ellis, CEO of British hedge fund firm Man Group. "It's not part of our investment universe today -- it could be. If there is a CME future on bitcoin, it would be."

REUTERS/Luke MacGregor

"Conceptually digital currencies are an interesting thing," said Luke Ellis, CEO of British hedge fund firm Man Group. "It's not part of our investment universe today -- it could be. If there is a CME future on bitcoin, it would be." REUTERS/Luke...more

"Conceptually digital currencies are an interesting thing," said Luke Ellis, CEO of British hedge fund firm Man Group. "It's not part of our investment universe today -- it could be. If there is a CME future on bitcoin, it would be." REUTERS/Luke MacGregor
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