Wall Street begins embracing Bitcoin

I recently came across this well-written analysis of Bitcoin by Citibank. If you have time, it is worth a read, or spend only 15 min to skim it if you're pressed for time (skip to page 101 for the conclusion).

Morgan Stanley next month is set to allow high net worth clients the ability to buy bitcoins. I think this is a good move. As more people with power and influence get involved, I hope to see bitcoin open up to the masses. I also hope that there is guidance and regulation provided so that the industry can healthily grow; right now, a lot of the features offered to the public sit in a gray area (e.g., lending of cryptocurrency to earn interest).

I'm also attaching a Morgan Stanley report if you have the time. It's more quantitative but serves as another data point from Wall Street.