Morgan Stanley Report Says Crypto Now An Institutional Asset Class

Institutional investors are increasingly getting involved in bitcoin and other cryptocurrencies – while the number of retail investors in the space is staying stagnant – according to a new report by Morgan Stanley (NYSE:MS).

In an update to “Bitcoin Decrypted: A Brief Teach-In and Implications,” the global banking giant’s research division delved into the last six months of bitcoin and highlighted certain trends it noticed. The report is dated October 31.

Perhaps most notably, the report emphasized its “rapidly morphing thesis,” which began by defining bitcoin as “digital cash” and noting that investors had full confidence in it, to a solution for issues in the financial system, to a new payment system to ultimately a new institutional investment class.

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