Cryptocurrencies have proven their durability and will not disappear overnight, but they are still not in high demand among customers, said James Gorman, CEO of Morgan Stanley.
"I don't think cryptocurrencies are a passing fad," he said during a conference call about third—quarter figures. –I do not know how much bitcoin should or should not cost, but it does not go away, and the underlying technology is obviously very real and promising."
The American financial conglomerate does not trade cryptocurrencies directly for the benefit of retail customers, but provides investors with the opportunity to buy bitcoin through various funds, Gorman explained. In April, Morgan Stanley's wealthy clients gained access to several external crypto funds.
"To tell the truth, it hasn't become a huge source of customer demand for us," Gorman added. –This direction may develop, but it clearly does not determine our economy in any way."
Earlier, JPMorgan CEO James Dimon once again criticized bitcoin, calling it "worthless."
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