Morgan Stanley analysts believe that bitcoin should not be called a currency

A review from Morgan Stanley states that bitcoin cannot be considered a currency. According to its authors, BTC is a speculative asset that is highly dependent on the environment that dominates the traditional financial sector at a particular point in time.

Some investors do use bitcoin as a hedging tool. Initially, BTC was created as an asset that accumulates capital. With it, you can send funds to anywhere in the world without the need to involve intermediaries.

However, in practice, BTC is strongly linked to the banking sector, and its value is directly provided by dollar liquidity placed in lending institutions.

The Federal Reserve System has a tremendous impact on the bitcoin rate, so Morgan Stanley calls not to consider it an independent asset, but to include it in the category of instruments for speculation.

Comments (No)

Leave a Reply