Morgan Stanley first major US bank to give wealthy clients access to Bitcoin funds.
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Morgan Stanley first major US bank to give wealthy clients access to Bitcoin funds.
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It's good but I am surprised they are willing to do this when Black Rock is so against it (Yellen is pretty much following Black Rock's lead). Looks like we can expect a fight between the various banks on the way forward.
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I think some banks realize they will be on the outs if they do not get involved.
Crypto is not geared towards the banks but big tech. If the banks sit back, I think they will be overrun by the likes of Facebook.
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I think I saw an article from Bank of America saying they were not going to accept crypto but I can't seem to find the article. But it will definitely be a battle between the big guys as we can only watch on the side lines.
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BAC is different from Morgan, Goldman, and JPM since they are not really an investment bank.
I believe those who are on the sidelines will really be making a strategic error that could be part of the history books ala Blockbuster and Kodak.
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