It is a vehicle to perpetrate fraud.”Q&A What is bitcoin and is it a bad investment? His comments came during another wildly volatile trading session for the digital currency, which plunged by over $2,000 in a 24-hour period. Blankfein said Goldman did not need to have a bitcoin strategy, adding the digital currency would need to be a lot less volatile and a lot more liquid to justify closer attention. Unlike traditional currencies, bitcoin is not issued or regulated by a central bank or government. Lee Wild, head of equity strategy at online trading company Interactive Investor, said the volatility in bitcoin trading was “wild west stuff”.

Source: The Guardian November 30, 2017 18:25 UTC