- Bitcoin is not a fad and is not going away, mentioned Morgan Stanley chief government officer James Gorman.
- Gorman therefore refutes JPMorgan CEO Jamie Dimon’s current remarks that, in his opinion, “Bitcoin is worthless.”
- But the Morgan Stanley head fails to understand that Bitcoin is the true innovation, not blockchain.
Morgan Stanley chief government officer James Gorman has a neutral-to-positive view on Bitcoin and cryptocurrencies, Bloomberg reported.
Gorman realizes that Bitcoin won’t die, opposite to JPMorgan CEO Jamie Dimon, who just lately reiterated his previous skepticism of BTC. “It’s got no intrinsic value. And regulators are going to regulate the hell out of it,” Dimon mentioned.
“I don’t think crypto is a fad. I don’t think it’s going to go away,” Gorman mentioned on the financial institution’s third-quarter earnings name 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.”