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Crypto Bull Run Will Return: Former MD at Morgan Stanley

Published 8 months ago by CoinNewsLive

Crypto Bull Run Will Return: Former MD at Morgan Stanley

CoinNewsLive via coinnewslive.com

In an interview with CoinNewsLive, Patrick Springer, Former MD at Morgan Stanley discussed the future of cryptocurrencies and adoption of blockchain technology by big enterprises. Patrick is currently an Advisor of the just-launched Polybird Exchange and a Member of the Wall Street Blockchain Alliance. His rich experience in this field makes his take on the future of cryptocurrencies and the adoption of blockchain technology intriguing and noteworthy.

In this interview, he discusses the needed infrastructure for blockchain adoption by Wall Street, expected changes in the regulatory framework and the environment needed for another cryptocurrency bull run. Morgan Stanley where he spent over 20 years is a perfect example of a company that has given mixed reactions about the viability of blockchain technology. But I would say that Wall Street companies will adopt aspects of blockchain if: 1) it is an asset that their core clients want to trade with them, such as Bitcoin futures, and  2) if Blockchain technology will give them significant cost savings and/or market share opportunities.

The bull run of 2018 brought several eyes to the crypto industry from investors to reporters, making it probably the most successful era of cryptocurrencies till date. Patrick replied: A bull market for crypto will come again when all the speculators have exited, i.e. when investors who believe in the greater fool theory of selling the same asset to someone but at a higher price, all leave. It is evident that Patrick Springer is optimistic about the future of cryptocurrencies and the adoption of blockchain technology by financial heavyweights on Wall Street. Coin spectator is an automated news aggregation service. All copyrights belong to their respective owners. Images and text owned by copyright holders are used in reference to and promotion of those respective parties. Read in Full

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