Morgan Stanley CEO believes that cryptocurrencies, including BTC, are not a temporary fad. He claims that he and the bank’s management are vigilant, respecting them and waiting for the regulators to handle the whole situation.
Morgan Stanley CEO believes BTC will stay
Morgan Stanley CEO James Gorman spoke on BTC and cryptocurrencies at a corporate conference on Thursday.
He stressed that cryptocurrencies they will stay with us here. “I have already spoken publicly on the subject, but I will say it again. I don’t think BTC is temporary. I really don’t know what the final value of BTC should or shouldn’t be, but I’m sure that BTC and cryptocurrencies won’t disappear. The blockchain technology on which cryptocurrencies work is undoubtedly innovative and very powerful, ”believes James Gorman.
Morgan Stanley is one of the first major banks to become interested in BTC. In March, management announced that it was starting to offer, albeit indirectly, BTC to its clients. And already in April, the bank added BTC to various investment funds.
BTC arouses interest
The Global Investment Bank has created a specialized team in the field of cryptocurrencies. “The establishment of a specialized cryptocurrency team will help us monitor the growing interest in cryptocurrencies and other digital assets,” explains the bank’s management.
“At the moment, we do not offer direct cryptocurrency trading for our clients, but there are other players for that. However, we offer access to the purchase of cryptocurrencies through various funds,” explains James Gorman.
Gorman added that cryptocurrencies do not currently constitute a significant business activity of the bank, but admitted that in the future it may be exactly the opposite. Of course, if the whole situation starts to change and interest grows, the bank will adapt to this.
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