Morgan Stanley Chief Executive James Gorman warned investors about the speculative nature of Bitcoin.
Speaking to Bloomberg, Gorman said: “I never understood the value of Bitcoin as a store of value.” said.
James Gorman, who has been Morgan Stanley’s CEO since 2010, handed over his position to Ted Pick on January 1 and remains the bank’s chief executive officer.
According to Gorman, touching on its speculative structure, Bitcoin wealthy investors in your portfolio “it should play a very minor role”.
Gorman, Bitcoin volatile and it’s about cryptocurrencies legal regulations also change He emphasized that it had started.
Morgan Stanley executive, “Look, Bitcoin isn’t going anywhere, it’s not a fad. I just don’t think it’s a fundamental investment. “I think it is a speculative asset and there are many options like it.” he commented.