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Bloomberg: Our System is Already a BitChain…err Blockchain

Wilma Woo | Dec 01, 2017 | 10:30

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Bloomberg mogul Michael R. Bloomberg could rue the day he called Bitcoin ‘Bitchain’ as Andreas Antonopoulos says he could “do better”.

Bloomberg: Bitcoin And Bitchain Are Confusing

In a joint interview with Goldman Sachs CEO Lloyd Blankfein on Bloomberg TV, Bloomberg made the apparently inadvertent slip-up while discussing the differences between Bitcoin and Blockchain.

“I think also people confuse Bitcoin with Bitchain,” he told the channel before Blankfein corrected him, going on to explain how Bloomberg itself was an example of a Blockchain.

“In fact, the Bloomberg system is a Blockchain. Instead of having the users control it, we control it, but it has all the attributes of that,” he claimed.

Reacting to the comments, Antonopoulos expressed his disappointment in Bloomberg’s absentminded approach to a technology shortly to debut on Wall Street in the form of Bitcoin futures.

“You can do better than this…,” he tweeted following publication of the interview.

You can do better than this… https://t.co/nTMbaWOvKE

— Andreas M. Antonopoulos (@aantonop) December 1, 2017

Wall Street Schism Grows Again

Blankfein was noticeably more careful in his comments on Bitcoin, reiterating previous statements that he was neither here nor there on cryptocurrency, but not entirely closed off to it.

“I’m thinking about it because I get asked about it,” he said. “Where I am on it is that it’s not for me, but there’s a lot of things that weren’t for me in the past that worked out very well.”

The curious Wall Street split on Bitcoin in particular meanwhile continues to grow. This week, Nasdaq joined CMEGroup in announcing it would launch Bitcoin futures, this time in 2018.

“I would just say that we have been having active dialogue with a lot of clients and with partners about what might be possible over time,” CEO Adena Friedman coyly told CNBC after news of the move hit the headlines.

There’s the future. That allows for hedging and other trading strategies, and there is also the ETF.

What do you think about the conflicting views on Bitcoin on Wall Street? Let us know in the comments below!

Images courtesy of Shutterstock, Twitter