Leading cryptocurrency Bitcoin Spot Bitcoin ETF fell sharply yesterday following rumors of disapproval.
However, BTC recovered afterwards and continues to trade around $43,000. Bitcoin comment came from US investment banking giant Morgan Stanley.
at this point Speaking to Bloomberg, James Gorman, chairman of the board of investment banking giant Morgan Stanley, said: He expressed doubts about Bitcoin’s role as an investment tool.
Gorman also thinks that Bitcoin is speculative and draws attention to its speculative nature, saying that he never understood the value of BTC as a store of value. “I never thought about buying it when it was $60, and I’m grateful I didn’t.” said.
Gorman underlined the inherent risks of Bitcoin, including high volatility and regulatory uncertainty. BTC He stated that he has a cautious stance on cryptocurrency investment and said:
“I think Bitcoin should have a very small place in rich people’s portfolios because Bitcoin is very speculative and very unstable.
Likewise, there is a huge regulatory gap for Bitcoin.”
Despite these thoughts, Gorman says that he believes Bitcoin will not disappear and is not a temporary fad, but Bitcoin is not a basic investment tool.
*This is not investment advice.
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