Former Morgan Stanley CEO Confirms Bitcoin’s Continued Existence
James Gorman, former CEO of Morgan Stanley, expressed his firm support for the longevity of Bitcoin. However, Gorman also highlighted the high volatility and speculative nature of BTC as an investment asset.
Bitcoin longevity is undeniable
James GormanMorgan Stanley, the former CEO and current chairman of the American multinational investment bank, recently appeared in an exclusive interview. Bloomberg TV.
In an interview on Thursday, Gorman explained his views on BTC while exploring the multifaceted dynamics of the cryptocurrency. Before going deeper into his discussion, he acknowledged his lack of understanding the true meaning and essence of the Bible. Bitcoin as a store of value.
According to the former CEO, BTC has a long life and will continue to thrive in the financial ecosystem. This analysis can be largely attributed to the following points: BTC’s decentralized nature Supply is limited and popularity is growing among institutional investors.
“I have never understood the value of Bitcoin as a form of stored value. “I once joked that I wished I had gotten it for $60, but I’m glad I didn’t get it for $60,000,” Gorman said.
He added:
“Listen. Bitcoin is not going away and it is not a fad. I don’t think it’s a core investment. “I think it is a speculative asset with a lot of room for choice,” he said.
The former Morgan Stanley CEO also shared his thoughts. BTC is a highly volatile asset. He stated that in his view, BTC is considered a speculative asset and not a core investment.
“Bitcoin is so speculative, so volatile and, again, experiencing massive regulatory changes and industry turmoil that it should play a very small role in the financial structures of the wealthy. “We have seen some classic failures recently,” he said.
BTC Reclaims $44,000
We are solidifying our position as one of the leading companies. achieving the best results digital assets, BTC It regained its upper hand in the 2024 bull market and recently surpassed $44,000. The cryptocurrency rose above $44,300 at one point on Thursday. But after give up some profitsAs CoinMarketCap reports, Bitcoin is trading at $43,836 at the time of this writing.
The rapid rise is said to be due to a decrease in reports that approval is imminent. Bitcoin ETF Spot U.S. Securities and Exchange Commission (secretary).
majority cryptocurrency analyst A consensus has already been reached, with investors predicting the SEC will ultimately approve the Spot Bitcoin ETF application in January.
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