Morgan Stanley Reportedly Set To Launch ‘Direct Ownership’ of Bitcoin For Clients

By Prashant Jha
Published March 31, 2021 Updated March 31, 2021
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Morgan Stanley Reportedly Set To Launch ‘Direct Ownership’ of Bitcoin For Clients

By Prashant Jha
Published March 31, 2021 Updated March 31, 2021

Morgan  Stanley, the American banking giant is reportedly working towards rolling out “Direct Ownership” of Bitcoin for its wealthy clients within their wealth management platform. The set feature is expected to debut in 2-3 weeks’ time. The said report also mentioned the bank is organizing weekly calls to educate its wealth advisors on Bitcoin. A couple of weeks ago, Morgan Stanley had announced Bitcoin Funds for its wealthy investors to help them gain exposure to one of the best-performing assets.

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The current inside scoop about Morgan Stanley only adds to the aggressive Bitcoin adoption approach by traditional financial giants. Yesterday, PayPal announced that it would allow US  customers to pay in cryptocurrency while a day before yesterday VISA announced they would allow crypto settlements on their network using USDC and Ethereum network.

Bitcoin has grown from a speculative volatile asset in the eyes of traditional bankers and wealth managers to become the growing choice of the store of value among the very same people. The adoption rate is so high that it seems by the end of this year we won’t only have an SEC-approved Bitcoin ETF, but the majority of financial service providers would add Bitcoin to their product line.

Bitcoin Has Grown From Speculative Asset to a Formidable Financial Future

Bitcoin this bull season seems to have got many skeptics into big-time proponents, who only a year back were pretty confident that it would eventually disappear into oblivion. The top cryptocurrency’s growing price with a decentralized formidable network has made it the growing choice of institutions as an inflation hedge.

The likes of Goldman Sach and Morgan Stanley who were among the skeptics are now actively looking for ways to add more Bitcoin products to their offering. With the diminishing value of US Dollar and Gold, Bitcoin would eventually become a dynamic asset which would offer store of value for Hodlers while people who wants to spend it for daily life purchases can do so by using second-layer solutions in the form of VISA and PayPal.

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Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
Prashant Jha
1008 Articles
An engineering graduate, Prashant focuses on UK and Indian markets. As a crypto-journalist, his interests lie in blockchain technology adoption across emerging economies.

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