Bitcoin Is Not Going Away Says Morgan Stanley CEO

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  • Bitcoin is not a fad and is not going away, said Morgan Stanley chief executive officer James Gorman.
  • Gorman hence refutes JPMorgan CEO Jamie Dimon’s recent remarks that, in his opinion, “Bitcoin is worthless.”
  • But the Morgan Stanley head fails to realize that Bitcoin is the true innovation, not blockchain.

Morgan Stanley chief executive officer James Gorman has a neutral-to-positive view on Bitcoin and cryptocurrencies, Bloomberg reported.

Gorman realizes that Bitcoin will not die, contrary to JPMorgan CEO Jamie Dimon, who recently reiterated his past skepticism of BTC. “It’s got no intrinsic value. And regulators are going to regulate the hell out of it,” Dimon said.

“I don’t think crypto is a fad. I don’t think it’s going to go away,” Gorman said on the bank’s third-quarter earnings call with analysts Thursday morning. “I don’t know what the value of Bitcoin should or shouldn’t be. But these things aren’t going away, and the blockchain technology supporting it is obviously very real and powerful.”

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