Bitcoin | Institutional Adoption Is Slowly Picking Up Says Banking Giant Morgan Stanley

The new reprint that was issued by the banking giant Morgan Stanley says that institutional adoption of bitcoin and crypto has been taking a slow pace in recent times and the records hasn’t moved up of recent. In the publication they which they said;

“A record number of Bitcoin units haven’t been used for any transaction in the past six months, currently at 78% of total and this number continues to rise.

What this means, if we oversimplify a bit, is that those who bought/received Bitcoin more than six months ago are holding onto their positions, with some likely waiting for a price recovery.”

source

According to their findings it was reprinted that a certain percentage of bitcoin which is remaining 22% to be exact belongs to shorty term holders of the digital asset. The analyst form the prestigious bank says that even if they have plan to offer crypto related products;

“In recent months, traditional financial companies have increasingly been announcing new crypto products to offer their clients exposure to the markets and facilities to be able to buy, sell and hold the underlying crypto…

The companies are saying they have introduced the products due to client demand but looking at the recent flows in and out of exchange traded products and the trends for trading volumes described above, we continue to think that unless there is material upward price volatility it may be difficult to see that real demand pick up materially.”

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