{"id":13206,"date":"2021-10-15T03:54:05","date_gmt":"2021-10-15T03:54:05","guid":{"rendered":"https:\/\/www.buyucoin.com\/crypto-labs\/morgan-stanley-ceo-says-bitcoin-is-not-a-fad-crypto-is-not-going-away\/"},"modified":"2021-10-15T03:54:05","modified_gmt":"2021-10-15T03:54:05","slug":"morgan-stanley-ceo-says-bitcoin-is-not-a-fad-crypto-is-not-going-away","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/morgan-stanley-ceo-says-bitcoin-is-not-a-fad-crypto-is-not-going-away\/","title":{"rendered":"Morgan Stanley CEO Says Bitcoin Is Not a Fad, Crypto Is Not Going Away"},"content":{"rendered":"

The chief executive officer of global investment bank Morgan Stanley says that cryptocurrency, including bitcoin, is not a fad. Noting that they are not going to go away, he said: \u201cWe\u2019re watchful of it, we\u2019re respectful, and we\u2019ll wait and see how the regulators handle it.\u201d<\/strong><\/p>\n

Morgan Stanley\u2019s CEO Says Bitcoin and Crypto Aren\u2019t Going Away<\/h2>\n

Morgan Stanley CEO James Gorman talked about bitcoin and cryptocurrency during the bank\u2019s third-quarter earnings call with analysts Thursday morning.<\/p>\n

Emphasizing that crypto is not going to go away, he said:<\/p>\n

I\u2019ve said it publicly before, I\u2019ll say it again. I don\u2019t think crypto\u2019s a fad. I don\u2019t know what the value of bitcoin should or shouldn\u2019t be, but these things aren\u2019t going away.<\/p>\n

He added: \u201cThe blockchain technology supporting it is obviously very real and powerful.\u201d<\/p>\n

Morgan Stanley was among the first major banks to embrace bitcoin. In March, the bank revealed that it had begun offering<\/a> bitcoin funds to clients. In April, the bank added<\/a> bitcoin to 12 mutual funds\u2019 investment strategies.<\/p>\n

The global investment bank launched<\/a> a dedicated cryptocurrency research team in September, led by Sheena Shah, the firm\u2019s crypto analyst. \u201cThe launch of dedicated crypto research is in recognition of the growing significance of cryptocurrencies and other digital assets in global markets,\u201d the bank explained.<\/p>\n

The Morgan Stanley executive explained during the earnings call, \u201cWe\u2019re not directly trading crypto for retail clients,\u201d adding that \u201cthere are other players who are choosing to do that.\u201d He clarified, \u201cWe give access to them to buy crypto through various funds<\/a> and things.\u201d<\/p>\n

He further detailed that crypto is currently not a big part of the bank\u2019s business but said it could grow in the future. \u201cFor us, honestly, it\u2019s just not a huge part of the business demand from our clients. And that may evolve and we\u2019ll evolve with it,\u201d he opined, elaborating:<\/p>\n

We\u2019re watchful of it, we\u2019re respectful, and we\u2019ll wait and see how the regulators handle it.<\/p>\n

Do you agree with Morgan Stanley\u2019s CEO about bitcoin and crypto? Let us know in the comments section below.<\/strong><\/em><\/p>\n

Bitcoin News
\nFeatured, bitcoin fad, crypto going away, morgan stanley, morgan stanley bitcoin, morgan stanley crypto, morgan stanley cryptocurrency<\/p>\n","protected":false},"excerpt":{"rendered":"

The chief executive officer of global investment bank Morgan Stanley says that cryptocurrency, including bitcoin, is not a fad. Noting that they are not going to go away, he said: \u201cWe\u2019re watchful of it, we\u2019re respectful, and we\u2019ll wait and see how the regulators handle it.\u201d Morgan Stanley\u2019s CEO Says Bitcoin and Crypto Aren\u2019t Going…<\/p>\n","protected":false},"author":0,"featured_media":13207,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53,3],"tags":[],"class_list":["post-13206","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","category-coin-news"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/13206"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=13206"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/13206\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/13207"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=13206"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=13206"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=13206"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}