Bitcoin Bear Market is Better for Spending: Morgan Stanley

Morgan Stanley, the major American bank, has yet again raised a hand in support of the world’s largest cryptocurrency, Bitcoin. The investment banking giant has recently released research on Bitcoin and its second-layer payment solution, Lightning Network. The report says the bear market of Bitcoin is what is more important and better for spending. It also added that in the long run, the cryptocurrency, unlike the US dollar, is better at providing its holders with more purchasing power. Alex Gladstein, the CSO of the Human Rights Foundation (HRF), described the report on his Twitter account. Morgan Stanley deemed Bitcoin to be a better means of payment than debit cards, in the report, Gladstein stated- “(the report) shows we are at the beginning of an era where more and more consumers may opt to pay for things using Bitcoin and cryptocurrencies over time.” It’s worth noting that all of the support comes to Bitcoin, although the coin has been in a bear market for several months now. Even cryptocurrency traders are concerned that Bitcoin could soon experience another severe bear push. Despite this, Morgan Stanley is one organization that has consistently supported Bitcoin’s use cases. Strike Integrating With the BlackHawk Good For Bitcoin? The report is based on the integration of Strike, a fintech payment processor for the Bitcoin Lightning Network, with BlackHawk Network, the world’s largest payment processor. Morgan Stanley s...