Morgan Stanley, a multinational investment bank and financial services company claims in a new report that Bitcoin and Altcoins have been a “new institutional investment class” since last year.
The file named ” Bitcoin Decrypted: A Brief Teach-In and Implications,” sees Morgan Stanley weigh in on the “surprising” growth in cryptocurrency that still proceeds today.
According to the investigations, the surprises to come from crypto this year are the solid formation of new finances concentrating on the sector and also the development of cryptocurrency-tied futures.
Despite the pushing market this year and the price decrease, Morgan Stanley continues, Bitcoin and Altcoins have constituted a “new institutional investment class” since last year.
Researchers also remained positive on decentralized technology characterizing it as making the world ”better.”
The document outlines a positive nature and marks one of the most solid signals that Wall Street is fastly becoming enamored with bitcoin specifically. Talking about their own entry, big investment companies have again featured client demand as pushing them to get more involved with the industry.
A month prior, an unknown source told mainstream media that the big banking company would follow the ways of Wall street heavyweight like NASDAQ and Citigroup in thinking about Bitcoin trading alternatives for Customers.