Morgan Stanley Exec Says $1 Million Bitcoin Is Possible: Here’s Why
Morgan Stanley digital asset strategy head Amy Oldenberg said Bitcoin could eventually reach $1 million, but only over a long adoption cycle or after a major disruption in traditional markets. She expects Bitcoin’s growth to be gradual rather than a sharp “J curve,” driven by broader product access, adviser education, custody infrastructure, and client demand. She said Morgan Stanley’s Bitcoin offerings, including its spot ETF and wealth platform presence, are expanding interest, but adviser adoption still lags because many clients and advisers need more education. The firm has recommended modest BTC allocations, typically 0%–2% or 2%–4% depending on risk tolerance. Oldenberg stressed that ETF holders do not directly own Bitcoin, only price exposure, though those positions may later be used for lending in some cases. She also said banks’ limited direct involvement reflects capital, regulatory, and balance-sheet constraints rather than hostility, and warned that different crypto assets should not be treated as interchangeable.
