Morgan Stanley Chairman "BTC Not a Core Investment"

Morgan Stanley Chairman James Gorman said in an interview with Bloomberg that Bitcoin cannot serve as a core investment. "We've never really understood bitcoin as a store of value," he said. "It's speculative, it's volatile, and it has inherent risks, including regulatory uncertainty. It should be a minimal part of an overall financial portfolio." Mr. Munger, who led Morgan Stanley for the past 14 years, stepped down as CEO on January 1.