Bitcoin enthusiasts can count Morgan Stanley CEO James Gorman as a soft supporter of the cryptocurrency.
While speaking at a conference hosted by The Wall Street Journal, Gorman said he thought bitcoin was “certainly more than just a fad.”
Still, though Gorman sees some potential in the digital coin, he has not invested in it.
“I’ve talked to a lot of people who have,” Gorman said. “It’s obviously highly speculative, but it’s not something that’s inherently bad. It’s a natural consequence of the whole blockchain technology.”
Two weeks ago, JPMorgan CEO Jamie Dimon bashed the cryptocurrency as “a fraud,” saying it was “worse than tulip bulbs.”
Dimon doubled down on his anti-bitcoin position on Friday, suggesting cryptocurrencies like bitcoin and ether “are a kind of novelty.”
Bitcoin is up 322% this year.