Morgan Stanley Chair James Gorman Once Said Bitcoin’s Role In Wealthy People’s Financial Fabric Would Be Very Small: The Investment Bank Is Now On A Roll Recommending King Crypto To Clients

Global investment bank Morgan Stanley (NYSE:MS) has actively pitched stocks and investments tied to Bitcoin (CRYPTO: BTC) to its clients this year, despite executive chairman James Gorman’s skepticism about the leading cryptocurrency’s potential.

What happened: Earlier this year, Gorman, who stepped down from his CEO role after a 14-year stint, famously discussed his reservations about Bitcoin’s investment appeal. 

“It should play for wealthy people a very small role in their financial fabric because it’s so speculative, it’s so volatile,” Gorman had said. 

“I just don’t think it’s a core investment. I think it’s a speculative asset of which …

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