Morgan Stanley, one of the largest multinational investment banks here in the United States yesterday stated that Altcoins and Bitcoin have been the new institutional investment class since 2017. The new report that was released on October 31st 2018 has clearly detailed how cryptocurrencies affect the global financial industry and economies.
Cryptocurrency Continues to Thrive Globally
The report titled, Bitcoin Decrypted: A Brief Teach-In and Implication” notes that the positive comments about cryptocurrencies made by Morgan Stanley will have a major positive impact on the cryptocurrency industry. The report also went ahead to state that the market will see more crypto related surprises before the year ends.
Morgan Stanley report also took note of the increased investment in cryptocurrencies by stating that it is one of the primary factors that fuel growth of the industry. Despite the sluggish market trends and major cryptocurrencies such as bitcoin dropping in value, the financial institution is confident that digital currencies are the new institutional investment class to look out for this year a beyond.
Researchers are also optimistic that the tested and proven decentralized technology is making the world better by redefining the financial sector and many other industries such as manufacturing. The researchers who compiled this report also took note of the strong signals that have the most impact on the industry.
One of the signals is Wall Street slow but steady swift of becoming enamoured with Bitcoin and other major cryptocurrencies. Investment firms have also confirmed that one of the main factors that motivate them to engage with the cryptocurrency industry is the increase in demand of crypto investment from clients.
Just last month, an anonymous source that is conversant with the industry trends told the mainstream media that Morgan Stanley is closely monitoring the industry and considering following the footsteps of Wall Street giants such as Citigroup and NASDAQ. That is, the bank is considering adding Bitcoin as one of the trading options that its clients can invest in today.
The confirmation that Bitcoin and other altcoins are here to stay and are having a major impact on the financial industry is a sign that the industry is headed in the right direction. Based on the huge impact that Morgan Stanley and other Wall Street giants have on the market, it is not difficult to see why their input in the cryptocurrency industry will promote its growth and adoption.
Government will soon start to see the positive impact of cryptocurrencies and come up with policies that will promote the growth of the industry. If you are yet to invest in cryptocurrencies, this is the right time to do so before the prices skyrocket. Be sure to compare and contrast the various options available before making your final investment decisions. More importantly, consult widely and check the market trends before yo invest.
2,083 total views, 6 views today