By Aparajita Saxena and Olivia Oran
(Reuters) - Goldman Sachs Group Inc "Still thinking about #Bitcoin. No conclusion - not endorsing/rejecting. Know that folks also were sceptical when paper money displaced gold," Blankfein tweeted on Tuesday. (http://bit.ly/2xP543l) The plan is in early stages and may not proceed, the Wall Street Journal report on Monday, citing people familiar with the matter. (http://on.wsj.com/2xMdWq8) Blankfein's tweet is in sharp contrast to comments made by JPMorgan Chase & Co Bitcoin is a digital currency that enables individuals to transfer value to each other and pay for goods and services bypassing banks. The market is fraught with volatility, with bitcoin prices Speaking at a bank investor conference in New York last month, Dimon said, "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." "It is worse than tulips bulbs," Dimon said, referring to a famous market bubble from the 1600s. Goldman's arch rival Morgan Stanley Former Fortress Investment Group LLC executive Mike Novogratz is also starting a $500 million hedge fund to invest in digital currencies like bitcoin. (Reporting by Aparajita Saxena in Bengaluru and Olivia Oran in New York; Editing by Anil D'Silva and Lisa Shumaker) (This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)