Morgan Stanley says Bitcoin needs regulation to keep rising


  • Markets
  • Wednesday, 14 Jun 2017

More to come: There is a tremendous potential for the application of blockchain in industrial use. Blockchain is the technology behind Bitcoin (pictured).

NEW YORK: While Morgan Stanley is high on the blockchain technology that underpins bitcoin, analysts at the investment bank are a bit more cautious when it comes to the surge in the price of the virtual currency.

“The rapid appreciation of cryptocurrencies has elicited many inbound phone calls to both our banks and tech teams,” the firm wrote in a report titled 'Blockchain: Unchained’ that was released Tuesday. 

“Possible explanations include investors in search of uncorrelated risk assets and technologists looking for incremental security. But governmental acceptance would be required for this to further accelerate, the price of which is regulation.” - Bloomberg
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