Morgan Stanley, through its research division, have released a new 50 page report updating on the status of Bitcoin (BTC), Cryptocurrencies and Blockchain. According to The Block, the new report is an update to the first version published by the same firm titled ‘Bitcoin Decrypted: A Brief Teach-in and Implications’. The latter report was released back in December as the firm has continually researched cryptocurrencies and blockchain. The research division of Morgan Stanley has released a total of 15 such research reports thus far.
The new report went on to claim that Bitcoin is no longer a store of value but is in fact an institutional asset class set to take on trading and cater for the needs of big banks and family offices across the globe. This is in tandem with the notion that institutional clients are asking for Bitcoin and cryptocurrencies. Therefore, it is only natural to adhere to their demands by giving them what they want.