Topic: [2017-09-30] Morgan Stanley's James Gorman Offers Rational Words on BTC (Read 2456 times)
September 30, 2017, 07:16:30 AM
It's funny how US financial institutions are more and more popping up to share their *opinion and thoughts* regarding Bitcoin. It's clear that Goldman Sachs, which is quite surprising considering their reputation, is the absolute bull amongst all. It's not only words coming from Goldman Sachs, but also very accurate predictions, which on the other hand makes me feel that they have something to do with all of this. It's quite impossible for anyone to accurately predict the market like Goldman Sachs did, unless that entity is a serious market mover - they definitely have deep enough pockets for that. One way or another, they all have their motives for how they publicly think about crypto in general - manipulation is the end goal.
September 30, 2017, 04:31:42 AM
So now Wall Street bankers are in two camps with their views on Bitcoin.
That is interesting!
I am glad that Morgan Stanley CEO, James Gorman consider Bitcoin to be more than just a "fad". He wasn't clearly supportive but he believes in potential of Bitcoin. Right now Bitcoin is highly speculative and something that is hard to trust by veteran investors. The growth of Bitcoin is like a bubble to them because this is how the stock market works. but they fail to understand the potential of the underlying technology and Bitcoin will definitely gonna prove them all wrong. Bitcoin will definitely be a next big thing in financial landscape.
That is interesting!
I am glad that Morgan Stanley CEO, James Gorman consider Bitcoin to be more than just a "fad". He wasn't clearly supportive but he believes in potential of Bitcoin. Right now Bitcoin is highly speculative and something that is hard to trust by veteran investors. The growth of Bitcoin is like a bubble to them because this is how the stock market works. but they fail to understand the potential of the underlying technology and Bitcoin will definitely gonna prove them all wrong. Bitcoin will definitely be a next big thing in financial landscape.
September 30, 2017, 03:39:37 AM
Hmmm. Quite interesting to read from someone inside other that Dimon and talking about bitcoin in a unbiased way. And he seems to be contradicting Dimon himself. Sadly he is not as popular as Dimon so I don't know if it has far reaching effect. However, its seems out of a ordinary than a bankers have seen what bitcoin is really is, specially he mentions that this market is purely speculative, but its not that bad either. Maybe this guy has investment in bitcoin because he wouldn't talk like this specially with his position on Morgan Stanley. Let's see how will this evolved. I'm seeing that Dimon will try to release another statement attacking bitcoin once more. This time more ferocious than the other one. But then again, he is irrelevant to us and hope that no one will be swayed by his bashing.
September 30, 2017, 02:47:06 AM
Quote
It might seem that lately, the world of high-finance want nothing more than to drop a proverbial load all over Bitcoin but CEO of leading global financial services firm Morgan Stanley, James Gorman, offered words to support the contrary on Wednesday.
Speaking at a conference hosted by The Wall Street Journal, he said he considered Bitcoin to be “certainly more than just a fad.” Whilst claiming yet to have invested himself, he went on to say:
I’ve talked to a lot of people who [invested in Bitcoin]. It’s obviously highly speculative, but it’s not something that’s inherently bad. It’s a natural consequence of the whole blockchain technology. The story broke over at Bloomberg where the news network accompanied it with a positive and informative video about cryptocurrency which seemed refreshingly balanced for a mainstream source.
The overall sentiment from the main-man at Morgan Stanley seemed to refute Jamie Dimon’s divisive words from the last few weeks. The JP Morgan Chase executive was widely reported as saying that Bitcoin was worse than tulip bulbs and won’t end well.”
The Source!
Speaking at a conference hosted by The Wall Street Journal, he said he considered Bitcoin to be “certainly more than just a fad.” Whilst claiming yet to have invested himself, he went on to say:
I’ve talked to a lot of people who [invested in Bitcoin]. It’s obviously highly speculative, but it’s not something that’s inherently bad. It’s a natural consequence of the whole blockchain technology. The story broke over at Bloomberg where the news network accompanied it with a positive and informative video about cryptocurrency which seemed refreshingly balanced for a mainstream source.
The overall sentiment from the main-man at Morgan Stanley seemed to refute Jamie Dimon’s divisive words from the last few weeks. The JP Morgan Chase executive was widely reported as saying that Bitcoin was worse than tulip bulbs and won’t end well.”
The Source!
Now, here is a man who is not actually seeking the limelight. Had he followed the same strategy employed by Mr. Jamie Demon, he could also be as popular as the man from JP Morgan Chase. The view expressed by Gorman is a very balanced one...not disparaging something he does not fully grasp and then later on realize that his firm is actually helping clients deal with the digital asset.
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