Morgan Stanley: Bitcoin Could Replace Dollar as Global Reserve Currency
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Morgan Stanley report argues Bitcoin could replace the U.S. dollar as the global reserve currency as the dollar plays an outsized role compared to the U.S. economy.
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Bitcoin has a limited supply and other inherent characteristics that make it a potential digital alternative to the dollar.
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Signs are emerging of Bitcoin adoption as legal tender and a store of value in places like El Salvador.
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Morgan Stanley says the long-term trend is toward a new form of digital money, likely a mix of assets including stablecoins, CBDCs, and cryptos.
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Bitcoin remains highly speculative, so it should only comprise a small part of one's portfolio, but could soar in value if it sees greater global adoption.