Cryptoassets Are Coming of Age — QUICK RETAIL REPORT



Despite the persisting bear market this year and the accompanying price drop, Morgan Stanley continues, Bitcoin and altcoins have constituted a "new institutional investment class" since 2017. Venture capital firms, hedge funds, and private equity firms have stored a total of $7.11 billion so far.

Morgan Stanley report started by specifically emphasizing on the "rapidly morphing thesis".

Additionally, the researchers at Morgan Stanley think the payment system implemented by the Bitcoin protocol will be adopted by financial institutions. Furthermore, the thesis noted how Bitcoin has emerged as an answer to the issues within the traditional financial system. The report details about the DLT, number of hacks, hard forks, new technologies, and other issues.

There is evidence that leading financial institutions are now boldly involving themselves in Bitcoin, giving further credibility to the report. The report cites Fidelity's new crypto services division, investments in Seed CX, BitGo and Binance, regulatory approvals and Coinbase's recent fundraising round as substantial claims for their thesis. The thesis noted Bitcoin as "digital cash" and said that investors had full confidence in the cryptocurrency. This occurred because many exchanges only trade crypto- crypto and not crypto- fiat. Stablecoins could be the next wave of development of crypto world but they have to gain strength by low volatility and transaction fees, high liquidity and regulated structure.

As reported by industry website Coindesk, the United States bank yesterday published an update to "Bitcoin Decrypted: A Brief Teach-In and Implications", which focused on the developments and trends observed across the Bitcoin space over the past six months. The report is dated October 31.

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The most important thing which the thesis mentions is that for nearly a year now, Bitcoin has emerged as the "rapidly morphing thesis".

The cryptocurrency assets under management have increased from around $680 million in January 2017 to nearly $7 billion in recent months, shows a research by Morgan Stanley.

According to Morgan Stanley's report, the current challenges the crypto industry is facing include regulatory uncertainty, the slow progress in the development of custodial solutions, and not enough large financial institutions involved in the nascent ecosystem.

The report also delved into a popular topic as of late: stablecoins, or types of cryptocurrencies that seek to enable some form of price stability.

Interestingly, the report also stated that bitcoin is "moving increasingly towards trading vs the stable coin USD-Tether (USDT)".

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