Morgan Stanley CEO Gorman plays down Bitcoin growth

cryptodailyuk (55)in #bitcoin • 7 years ago

If there is one subject that seems to divide the large financial investors and investment banks, it is Bitcoin! While the stunning year the cryptocurrency has seen to date has amazed all with its 700% growth, some have not always been too complimentary about it.

One exception to that had been Morgan Stanley CEO James Gorman who, while not gushing in praise, had not been overly critical of it. In recent comments though, it seems he may now be taking a more cautious stance on Bitcoin.

Gorman hints at speculative bubble

Although his recent reported comments were not scathing as such, he did take time to point out a few concerns he had around the cryptocurrency. The first was that he didn’t think the attention Bitcoin was currently getting was deserved or healthy. It seems he fears that the widespread popularity of the cryptocurrency may be leading to a speculative bubble to build up. In his opinion, the fact that the popular cryptocurrency has shot up by so much in a relatively short space of time is proof in itself of the speculative nature of the Bitcoin market.

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