Morgan Stanley chairman and CEO James Gorman has said that bitcoin is "punching above its weight," according to a news report.
Speaking to CNBC this morning, however, Gorman further said that the cryptocurrency "doesn't deserve the attention it's getting," arguing:
"Something that goes up 700 percent in a year – it's by definition speculative. So anybody who thinks they're buying something that it's a stable investment is deluding themselves."
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