The World's Global Cryptocurrency Won't Be Bitcoin Claims Ex-Goldman President Gary Cohn

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8 May, 2018

The former President of Goldman Sachs, Gary Cohn, says that, while the world will some day have a global currency, it won't be bitcoin.

"I'm not a big believer in bitcoin. I am a believer in blockchain technology," former Goldman Sachs President Gary Cohn told CNBC's Bob Pisani in a "Squawk on the Street" interview.

"I do think we will have a global cryptocurrency at some point where the world understands it and it's not based on mining costs or cost of electricity or things like that," Cohn said.

He expects the digital coin of the future will be simpler than bitcoin. "It will be a more easily understood cryptocurrency," Cohn said.

Berkshire Hathaway CEO Warren Buffett, Vice Chairman Charlie Munger and Microsoft Co-Founder Bill Gates also spoke to CNBC's Becky Quick about bitcoin and cryptocurrencies.

Munger calls bitcoin "worthless artificial gold".