Crypto Comment from Morgan Stanley CEO

Crypto comment from Morgan Stanley CEO. CEO James Gorman said that cryptocurrencies are permanent.

Speaking at the third quarter balance sheet meeting of Morgan Stenley, one of the world's leading investment banks, CEO James Gorman said that cryptocurrencies are permanent. Gorman said, "I don't think crypto is a fad. Cryptocurrencies are not going anywhere." Gorman continued: “I have no idea what Bitcoin should or should not be worth, but the blockchain technology that underpins it is obviously very realistic and powerful.” In addition, the CEO of Morgan Stanley underlined that there is no great demand for cryptocurrencies for the customers of the bank. Morgan Stanley was one of the banking institutions that has come to the fore with its attitude towards cryptocurrencies in the past. Recent statements and the bank's quest to provide services for cryptocurrencies for a while reveal that they have entered into a transformation. On the other hand, Jamie Dimon, CEO of another investment banking giant JPMorgan, described Bitcoin as worthless in his statements this week and said, “Our clients are adults, they disagree, that’s what makes markets, so if they want to have access to buy yourself Bitcoin, we can’t custody it but we can give them legitimate, as-clean-as-possible access.”