The financial conglomerate Morgan Stanley, which owns the largest brokerage business in the world, has officially recognized cryptocurrency as a new class of investment assets.
The bank circulated a note to clients stating that digital currencies such as bitcoin have sufficient liquidity, as well as supply and demand levels to classify them as instruments that can be used to diversify investment portfolios. Authors of the document talk about the strengthening of the regulatory framework for cryptocurrencies, the growth of interest in the market and the availability of products.
Morgan Stanley notes that digital asset investments are still speculative but can benefit from weak correlation with traditional instruments. At the same time, the bank recommends approaching the purchase of cryptocurrency as a venture investment, due to the complexity of market forecasting and the uncertainty of pricing..
At the end of the note, the authors advise investors to start with publicly traded multi-asset instruments related to the crypto industry or blockchain ecosystem.
text: Ivan Malichenko, photo: iStock