• The CEO of Morgan Stanley has stated that Bitcoin is not going away

  • Morgan Stanley’s Chief Executive Officer, James Gorman, believes cryptocurrencies are more than just a passing fad. He claimed that if industry watchdogs impose regulations on the industry, his company will be able to provide a wider range of digital asset services to clients.

    Cryptocurrency Is Here to Stay

    During Morgan Stanley’s third-quarter earnings call, James Gorman, the company’s Chairman and CEO, stated that bitcoin and the cryptocurrency industry “aren’t going away.” He also lauded the advantages of blockchain technology:

    “I don’t think it’ll go away.” I’m not sure what bitcoin’s value should or should not be, but these things aren’t going away. And the blockchain technology that is enabling it is clearly very real and powerful.”

    Contrary to the majority of cryptocurrency critics, who see the asset class as a speculative trend, the 63-year-old Australian stated:

    “I don’t believe cryptocurrency is a fad.”

    Morgan Stanley, a massive multinational investment bank, provides institutional clients with digital asset services such as access to bitcoin funds. Gorman revealed that, depending on future regulations, the company may offer more cryptocurrency options:

    “It’s just not a large part of our clients’ business demand, and that may evolve, and we’ll evolve with it.” We’re keeping an eye on it, being respectful, and waiting to see how the regulators handle it.”

    Bitcoin Is An Anty-Fragile Cryptocurrency

    Morgan Stanley’s bullish stance on bitcoin does not end with James Gorman. Dennis Lynch, the institution’s Head of Counterpoint Global, stated last month that the primary cryptocurrency has the ability to gain in times of economic disruption, labeling it as “anti-fragile.”

    As a result, Lynch drew an interesting parallel between BTC and one of the main characters in the award-winning animated series “South Park” – Kenny, who dies in each episode and reappears in the next.

    On that note, it is worth noting that bitcoin has already been declared “dead” over 400 times. Despite price drops over the years, it has always managed to overcome the difficulties, and it now stands as an asset with a market cap of more than $1 trillion, 12 years after its creation.

    Morgan Stanley’s executive is a HODLer as well as a supporter of the leading digital asset. According to him, it represents a global trend that society follows, which is one of the factors to consider when considering innovation:

    “Owning a small portion of something where things can go right while also knowing that there are some things that can go wrong is not unreasonable in a world where there is so much disruption and where the upside scenarios end up being so large.”

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