Morgan Stanley CEO: Bitcoin Is Not Going Away

  • Bitcoin shouldn’t be a fad and isn’t going away, mentioned Morgan Stanley chief govt officer James Gorman.
  • Gorman therefore refutes JPMorgan CEO Jamie Dimon’s current remarks that, in his opinion, “Bitcoin is nugatory.”
  • But the Morgan Stanley head fails to comprehend that Bitcoin is the true innovation, not blockchain.

Morgan Stanley chief govt officer James Gorman has a neutral-to-positive view on Bitcoin and cryptocurrencies, Bloomberg reported.

Gorman realizes that Bitcoin won’t die, opposite to JPMorgan CEO Jamie Dimon, who just lately reiterated his previous skepticism of BTC. “It’s bought no intrinsic worth. And regulators are going to manage the hell out of it,” Dimon mentioned.

“I do not assume crypto is a fad. I do not assume it may go away,” Gorman mentioned on the financial institution’s third-quarter earnings name with analysts Thursday morning. “I do not know what the worth of Bitcoin ought to or should not be. But this stuff aren’t going away, and the blockchain know-how supporting it’s clearly very actual and highly effective.”

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