NEW YORK (Reuters) – Goldman Sachs Group Inc (GS.N) is trying to figure out how to cater to investors who want to trade bitcoin even though the digital currency remains too volatile for the Wall Street bank to trade itself, according to comments by a representative and its chief executive officer on Thursday.

FILE PHOTO – The logo of Goldman Sachs is displayed in their office located in Sydney, Australia, May 18, 2016. REUTERS/David Gray/File Photo

At an event, CEO Lloyd Blankfein said there was no imminent need for Goldman Sachs to develop a strategy around bitcoin, which rose to an all-time high of $11,395 on Wednesday only to lose one-fifth of its value on Thursday.

“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,” Blankfein said at an event hosted by Bloomberg to promote Goldman’s 10,000 Small Businesses endeavor.

The bank will trade in bitcoin if it becomes more established, trades in a less volatile manner and has more liquidity, he said.

Even so, Goldman has been looking at ways to facilitate bitcoin trades for customers. It is still doing so, spokeswoman Tiffany Galvin told Reuters in a statement.

FILE PHOTO – A bitcoin (virtual currency) coin placed on Dollar banknotes is seen in this illustration picture, November 6, 2017. REUTERS/Dado Ruvic/Illustration

“In response to client interest in digital currencies, we are exploring how best to serve them in the space,” she said.

Established in 2009 as a digital currency not backed or regulated by governments, bitcoin was mainly supported by technology enthusiasts at…

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