Morgan Stanley: Bitcoin (BTC) Can Be Used as a US Reserve Asset
JH Kim
Summary
- Morgan Stanley has assessed that Bitcoin holds sufficient market capitalization to be considered a reserve asset by the US.
- Morgan Stanley stated that the US would need to hold 12-17% of the total Bitcoin supply to match the proportion of other reserve currencies.
- It was noted that Bitcoin's high volatility remains a challenge compared to other traditional reserve assets.
According to CryptoBasic, a media outlet specializing in virtual assets (cryptocurrency), Morgan Stanley has assessed in a report that Bitcoin (BTC) now holds a sufficient market capitalization to be considered a reserve asset by the US government.
Morgan Stanley stated, "The current market capitalization of Bitcoin is approximately $1.87 trillion, and the US would need to hold 12-17% of the total Bitcoin supply to match the proportion of other reserve currencies," adding, "However, it is true that Bitcoin is much more volatile compared to other traditional reserve assets."
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.