Morgan Stanley releases a report looking at the current state of cryptocurrencies-1.92

The research division of Morgan Stanley, one of the major investment banks, released a new 50-page report titled: “Update: Bitcoin, Cryptocurrencies and Blockchain” on Wednesday. The new report is an update to the first version titled “Bitcoin Decrypted: A Brief Teach-in and Implications,” which was released at the peak of the bubble in December. Morgan Stanley has been researching cryptocurrency and blockchain for quite some time; it already released 15 research reports with the oldest one dating to May 2017.

Morgan Stanley starts off the report by noting that Bitcoin’s thesis has been “rapidly morphing.” It details the perceived change in narratives, which started as digital cash, moved to store of value and is now an institutional investment class.

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