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Laxman Pai, Opalesque Asia: Cryptocurrencies are newly labeled as an institutional investment class as institutional investors are increasingly investing in cryptocurrencies, says a report.
According to a new report by Morgan Stanley, institutional investors are increasingly getting engaged with Bitcoin and other altcoins. The bank also noted that the number of retail investors in the cryptocurrency market remains stable.
In an update to its "Bitcoin Decrypted: A Brief Teach-In and Implications", Morgan Stanley emphasized its "rapidly morphing thesis," which began by defining bitcoin as "digital cash" and highlighted that investors had full confidence in it.
Despite the downturn in cryptocurrency markets, 2018 has witnessed a surge in institutional interest.
The global investment bank then went on to discuss how Bitcoin could solve issues in the financial system and its ability to become a new payment system.
Various issues and discoveries around the bitcoin ecosystem have caused the thesis to evolve, including the permanent ledger recording all transactions, a number of hacks, hard forks, new technologies which are cheaper than bitcoin, market volatility and other concerns.
The report also lauds the most important aspect i.e. the permanent blockchain ledger which records all transactions.
Since January 2016, there is a gradual increase in investments made in institutional crypto products. Venture capital firms, hedge funds, and private equity firm...................... To view our full article Click here
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