2021-03-17 CNBC - Morgan Stanley to offer wealthy clients access to btc funds

bbc.reporter

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Quote from: acquafredda on March 20, 2021, 02:04:54 AM

Quote from: aoluain on March 19, 2021, 03:02:06 PM

Good lessons! elementary really but not everyone is taught these at school.
Business and economics lessons in my country are reserved for the higher
achievers who would traditionally be employed in higher paying jobs or become
business people, The Elite we are talking about generally of course.

Now that you have an internet connection help yourself! You do not need to rely on school or universities for your own education! Educate yourself like everyone did with bitcoin! Nobody taught us how to deal with bitcoin Wink

Agreed on the campaign to educate ourselves, however, be careful from where you get the education. If you get the education from Bullwinkle who teaches that bitcoin is digital gold and to disagree with this is wrong then you have to question the teacher. Many developers and users also came to bitcoin as an alternative to traditional payments.

Harlot

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Well they aren't exactly directly the ones giving the Bitcoin investment option for their investors but it is with their partnership with Galaxy Digital and NYDIG both of which are crypto specific investment businesses. IMO Morgan Stanley just wants a piece of the pie and they are afraid that their own investors will just be going directly to these kinds of companies that they are in partner with that's why they did this preventive act by just partnering with them and simply give what their clients want. These seems to be what big traditional investment companies are doing now as their own clients see that cryptocurrencies is not a bad investment after all.

cr1776

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Yeah, I was attempting to relate personal experience with people, should've been clearer. :-)

Quote from: aoluain on March 19, 2021, 05:20:06 AM

Quote from: cr1776 on March 18, 2021, 06:16:46 PM

Quote from: aoluain on March 18, 2021, 05:45:27 PM

Quote from: bbc.reporter on March 17, 2021, 11:15:11 PM

@Coin-Keeper. I am skeptical. Janet Yellen wants a crackdown on bitcoin and strictly regulate the market and its users and the banks are offering bitcoin services for their wealthy clients? I have begun telling everyone since 2 years ago that bitcoin and the cryptospace might become the elite's playground and it appears we are going closer to this while the community celebrates Elon and Saylor.

Thats food for thought all right, Bitcoin will become the playground of the elite
while we do indeed celebrate Elon and Michael. Eventhough Michael is in one way
good for Bitcoin he is inviting the elite who are able to hoover up many many Bitcoin.

Morgan Stanley will in effect help the those elite to move into the space indirectly.

This is all good from a Bitcoin price as it rises, but it pushes it further away from
the peple who need it most.

I know, I know ordinary people will still be able to buy it but just not as much.

Or they can just buy now. And could've at any time since 2009. It is all about freedom and choices. People have the freedom to make good choices in buying or not. They can think long term (e.g. buy Bitcoin and keep it for 5-10 years) or short term and go out and buy Starbucks coffee everyday and forgo $2190 of Bitcoin per year. ($6/day * 365).

I've told people about Bitcoin since mid 2010 and the thesis behind it. Most of those people chose to prioritize a new phone ($600 in 2011-2013) would've bought a lot of Bitcoin. Even at $30 in 2013, you'd have had 20 which are not worth ~$1.2 million. Or they bought Starbucks every day. Or they bought expensive wine or beer or liquor.

Everyone has the same opportunity, and it is the ant and the grasshopper repeatedly. People want to be the grasshopper short term, but then when the ant is rewarded, they complain.

Investments compounded over decades add up even outside of Bitcoin, but few people will be patient for 50 years. They want what they want now, and then pay the price later.

I understand cr1776, and I get that in general peoples priorities are not
thinking about the future but rather "keeping up appearances" and falling
for the latest tech etc. etc.

Look I knew about Bitcoin back in 2013 when ny brother first got involved
but I didnt see what it could become in the future [now] so I understand
your point and agree fully,

But not everyone knew about Bitcoin back in 2013 or even 2017. There are
newcomers to the scene, the younger generation. OK the didnt experience
the early days where you could buy 1 bitcoin for $30 but its more difficult now.

Quote from: bbc.reporter on March 18, 2021, 09:55:38 PM

Quote from: aoluain on March 18, 2021, 05:45:27 PM

Quote from: bbc.reporter on March 17, 2021, 11:15:11 PM

@Coin-Keeper. I am skeptical. Janet Yellen wants a crackdown on bitcoin and strictly regulate the market and its users and the banks are offering bitcoin services for their wealthy clients? I have begun telling everyone since 2 years ago that bitcoin and the cryptospace might become the elite's playground and it appears we are going closer to this while the community celebrates Elon and Saylor.

Thats food for thought all right, Bitcoin will become the playground of the elite
while we do indeed celebrate Elon and Michael. Eventhough Michael is in one way
good for Bitcoin he is inviting the elite who are able to hoover up many many Bitcoin.

Morgan Stanley will in effect help the those elite to move into the space indirectly.

This is all good from a Bitcoin price as it rises, but it pushes it further away from
the peple who need it most.

I know, I know ordinary people will still be able to buy it but just not as much.

Are you quite certain Michael Saylor is good for bitcoin? You should read his tweets. It appears that he has his own ideas or rules on how bitcoin should be used and what should bitcoin be. However, I have not witnessed any bitcoin influencer argue with him as long as the price is pumping hehehehe. This is certainly beginning to be their playground.

i'm actually not certain Michael Saylor is good for Bitcoin thats a whole different
discussion. I understand why he is in now and I kind of get his motives to be
very active on twitter and yourtube, I know is that a lot of other people love the
fact that his presence and arguments for adopting Bitcoin are good for the increasing
price of Bitcoin.

I also know that he is helping to infleuence the Elite and possibly Morgan Stanley about
Bitcoin which is not wholly positive, its easy to get caught up in what is happening
currently, maybe we need to step back and reflect on the implications that these
big investors will cause?

acquafredda

legendary

Activity: 1316

Merit: 1481

Quote from: aoluain on March 19, 2021, 03:02:06 PM

Good lessons! elementary really but not everyone is taught these at school.
Business and economics lessons in my country are reserved for the higher
achievers who would traditionally be employed in higher paying jobs or become
business people, The Elite we are talking about generally of course.

Now that you have an internet connection help yourself! You do not need to rely on school or universities for your own education! Educate yourself like everyone did with bitcoin! Nobody taught us how to deal with bitcoin Wink

aoluain

legendary

Activity: 2254

Merit: 1256

Good lessons! elementary really but not everyone is taught these at school.
Business and economics lessons in my country are reserved for the higher
achievers who would traditionally be employed in higher paying jobs or become
business people, The Elite we are talking about generally of course.

acquafredda

legendary

Activity: 1316

Merit: 1481

It is all down to the famous Time Preference: people prefer present goods to future goods. Bitcoin should be the wake up call on this topic as perfectly explained by Saifedean Ammous in the bitcoin Standard

https://www.youtube.com/watch?v=EjVmEKKDgI8
https://www.youtube.com/watch?v=AH8HGVK3nRc

aoluain

legendary

Activity: 2254

Merit: 1256

Quote from: cr1776 on March 18, 2021, 06:16:46 PM

Quote from: aoluain on March 18, 2021, 05:45:27 PM

Quote from: bbc.reporter on March 17, 2021, 11:15:11 PM

@Coin-Keeper. I am skeptical. Janet Yellen wants a crackdown on bitcoin and strictly regulate the market and its users and the banks are offering bitcoin services for their wealthy clients? I have begun telling everyone since 2 years ago that bitcoin and the cryptospace might become the elite's playground and it appears we are going closer to this while the community celebrates Elon and Saylor.

Thats food for thought all right, Bitcoin will become the playground of the elite
while we do indeed celebrate Elon and Michael. Eventhough Michael is in one way
good for Bitcoin he is inviting the elite who are able to hoover up many many Bitcoin.

Morgan Stanley will in effect help the those elite to move into the space indirectly.

This is all good from a Bitcoin price as it rises, but it pushes it further away from
the peple who need it most.

I know, I know ordinary people will still be able to buy it but just not as much.

Or they can just buy now. And could've at any time since 2009. It is all about freedom and choices. People have the freedom to make good choices in buying or not. They can think long term (e.g. buy Bitcoin and keep it for 5-10 years) or short term and go out and buy Starbucks coffee everyday and forgo $2190 of Bitcoin per year. ($6/day * 365).

I've told people about Bitcoin since mid 2010 and the thesis behind it. Most of those people chose to prioritize a new phone ($600 in 2011-2013) would've bought a lot of Bitcoin. Even at $30 in 2013, you'd have had 20 which are not worth ~$1.2 million. Or they bought Starbucks every day. Or they bought expensive wine or beer or liquor.

Everyone has the same opportunity, and it is the ant and the grasshopper repeatedly. People want to be the grasshopper short term, but then when the ant is rewarded, they complain.

Investments compounded over decades add up even outside of Bitcoin, but few people will be patient for 50 years. They want what they want now, and then pay the price later.

I understand cr1776, and I get that in general peoples priorities are not
thinking about the future but rather "keeping up appearances" and falling
for the latest tech etc. etc.

Look I knew about Bitcoin back in 2013 when ny brother first got involved
but I didnt see what it could become in the future [now] so I understand
your point and agree fully,

But not everyone knew about Bitcoin back in 2013 or even 2017. There are
newcomers to the scene, the younger generation. OK the didnt experience
the early days where you could buy 1 bitcoin for $30 but its more difficult now.

Quote from: bbc.reporter on March 18, 2021, 09:55:38 PM

Quote from: aoluain on March 18, 2021, 05:45:27 PM

Quote from: bbc.reporter on March 17, 2021, 11:15:11 PM

@Coin-Keeper. I am skeptical. Janet Yellen wants a crackdown on bitcoin and strictly regulate the market and its users and the banks are offering bitcoin services for their wealthy clients? I have begun telling everyone since 2 years ago that bitcoin and the cryptospace might become the elite's playground and it appears we are going closer to this while the community celebrates Elon and Saylor.

Thats food for thought all right, Bitcoin will become the playground of the elite
while we do indeed celebrate Elon and Michael. Eventhough Michael is in one way
good for Bitcoin he is inviting the elite who are able to hoover up many many Bitcoin.

Morgan Stanley will in effect help the those elite to move into the space indirectly.

This is all good from a Bitcoin price as it rises, but it pushes it further away from
the peple who need it most.

I know, I know ordinary people will still be able to buy it but just not as much.

Are you quite certain Michael Saylor is good for bitcoin? You should read his tweets. It appears that he has his own ideas or rules on how bitcoin should be used and what should bitcoin be. However, I have not witnessed any bitcoin influencer argue with him as long as the price is pumping hehehehe. This is certainly beginning to be their playground.

i'm actually not certain Michael Saylor is good for Bitcoin thats a whole different
discussion. I understand why he is in now and I kind of get his motives to be
very active on twitter and yourtube, I know is that a lot of other people love the
fact that his presence and arguments for adopting Bitcoin are good for the increasing
price of Bitcoin.

I also know that he is helping to infleuence the Elite and possibly Morgan Stanley about
Bitcoin which is not wholly positive, its easy to get caught up in what is happening
currently, maybe we need to step back and reflect on the implications that these
big investors will cause?

bbc.reporter

legendary

Activity: 2926

Merit: 1440

Quote from: aoluain on March 18, 2021, 05:45:27 PM

Quote from: bbc.reporter on March 17, 2021, 11:15:11 PM

@Coin-Keeper. I am skeptical. Janet Yellen wants a crackdown on bitcoin and strictly regulate the market and its users and the banks are offering bitcoin services for their wealthy clients? I have begun telling everyone since 2 years ago that bitcoin and the cryptospace might become the elite's playground and it appears we are going closer to this while the community celebrates Elon and Saylor.

Thats food for thought all right, Bitcoin will become the playground of the elite
while we do indeed celebrate Elon and Michael. Eventhough Michael is in one way
good for Bitcoin he is inviting the elite who are able to hoover up many many Bitcoin.

Morgan Stanley will in effect help the those elite to move into the space indirectly.

This is all good from a Bitcoin price as it rises, but it pushes it further away from
the peple who need it most.

I know, I know ordinary people will still be able to buy it but just not as much.

Are you quite certain Michael Saylor is good for bitcoin? You should read his tweets. It appears that he has his own ideas or rules on how bitcoin should be used and what should bitcoin be. However, I have not witnessed any bitcoin influencer argue with him as long as the price is pumping hehehehe. This is certainly beginning to be their playground.

cr1776

legendary

Activity: 4018

Merit: 1299

Quote from: aoluain on March 18, 2021, 05:45:27 PM

Quote from: bbc.reporter on March 17, 2021, 11:15:11 PM

@Coin-Keeper. I am skeptical. Janet Yellen wants a crackdown on bitcoin and strictly regulate the market and its users and the banks are offering bitcoin services for their wealthy clients? I have begun telling everyone since 2 years ago that bitcoin and the cryptospace might become the elite's playground and it appears we are going closer to this while the community celebrates Elon and Saylor.

Thats food for thought all right, Bitcoin will become the playground of the elite
while we do indeed celebrate Elon and Michael. Eventhough Michael is in one way
good for Bitcoin he is inviting the elite who are able to hoover up many many Bitcoin.

Morgan Stanley will in effect help the those elite to move into the space indirectly.

This is all good from a Bitcoin price as it rises, but it pushes it further away from
the peple who need it most.

I know, I know ordinary people will still be able to buy it but just not as much.

Or they can just buy now. And could've at any time since 2009. It is all about freedom and choices. People have the freedom to make good choices in buying or not. They can think long term (e.g. buy Bitcoin and keep it for 5-10 years) or short term and go out and buy Starbucks coffee everyday and forgo $2190 of Bitcoin per year. ($6/day * 365).

I've told people about Bitcoin since mid 2010 and the thesis behind it. Most of those people chose to prioritize a new phone ($600 in 2011-2013) would've bought a lot of Bitcoin. Even at $30 in 2013, you'd have had 20 which are not worth ~$1.2 million. Or they bought Starbucks every day. Or they bought expensive wine or beer or liquor.

Everyone has the same opportunity, and it is the ant and the grasshopper repeatedly. People want to be the grasshopper short term, but then when the ant is rewarded, they complain.

Investments compounded over decades add up even outside of Bitcoin, but few people will be patient for 50 years. They want what they want now, and then pay the price later.

aoluain

legendary

Activity: 2254

Merit: 1256

Quote from: bbc.reporter on March 17, 2021, 11:15:11 PM

@Coin-Keeper. I am skeptical. Janet Yellen wants a crackdown on bitcoin and strictly regulate the market and its users and the banks are offering bitcoin services for their wealthy clients? I have begun telling everyone since 2 years ago that bitcoin and the cryptospace might become the elite's playground and it appears we are going closer to this while the community celebrates Elon and Saylor.

Thats food for thought all right, Bitcoin will become the playground of the elite
while we do indeed celebrate Elon and Michael. Eventhough Michael is in one way
good for Bitcoin he is inviting the elite who are able to hoover up many many Bitcoin.

Morgan Stanley will in effect help the those elite to move into the space indirectly.

This is all good from a Bitcoin price as it rises, but it pushes it further away from
the peple who need it most.

I know, I know ordinary people will still be able to buy it but just not as much.

acquafredda

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Activity: 1316

Merit: 1481

Quote from: Coin-Keeper on March 17, 2021, 04:49:19 PM

They have huge influence and they are effectively endorsing the coins. Very nice to read about. Almost every day some new corporation is jumping in the action.

Visa and Mastercard also gave a huge endorsement to bitcoin lately. These giants are indirectly preparing the public for an inevitable mass adoption that now is nearer than ever: all in less than 12 years.

bbc.reporter

legendary

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@Coin-Keeper. I am skeptical. Janet Yellen wants a crackdown on bitcoin and strictly regulate the market and its users and the banks are offering bitcoin services for their wealthy clients? I have begun telling everyone since 2 years ago that bitcoin and the cryptospace might become the elite's playground and it appears we are going closer to this while the community celebrates Elon and Saylor.

Coin-Keeper

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They have huge influence and they are effectively endorsing the coins. Very nice to read about. Almost every day some new corporation is jumping in the action.

acquafredda

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Activity: 1316

Merit: 1481

Quote

The investment bank told its financial advisors Wednesday in an internal memo that the bank is launching access to three funds that enable ownership of bitcoin, according to people with direct knowledge of the matter.
Two of the funds on offer are from Galaxy Digital, a crypto firm founded by Mike Novogratz, while the third is a joint effort from asset manager FS Investments and bitcoin company NYDIG.
Morgan Stanley is only allowing its wealthier clients access to the volatile asset: The bank considers it suitable for people with “an aggressive risk tolerance” who have at least $2 million in assets held by the firm. Investment firms need at least $5 million at the bank to qualify for the new stakes.

https://www.cnbc.com/2021/03/17/bitcoin-morgan-stanley-is-the-first-big-us-bank-to-offer-wealthy-clients-access-to-bitcoin-funds.html

Not the real deal as they will offer indirect exposure to bitcoin. Interesting because it means much more pressure on the market as the funds need to have real bitcoins in their big fat belly. Will see.

Topic: 2021-03-17 CNBC - Morgan Stanley to offer wealthy clients access to btc funds (Read 122 times)