Morgan Stanley Sees Gold-Like Returns in Bitcoin

Morgan Stanley's Global Investment Committee has endorsed Bitcoin as a scarce, non-sovereign store of value, drawing parallels to gold and recommending it as a legitimate portfolio allocation for clients across the risk spectrum.

The GIC's recommended Bitcoin exposure ranges from 0-2% for balanced growth portfolios and climbs to 2-4% for clients with a higher risk tolerance and more opportunistic mandate. These numbers reflect the committee's view that Bitcoin's fixed supply and low current penetration make it a credible long-term holding.

Morgan Stanley estimates Bitcoin's market cap represents roughly 2% of a $130 trillion addressable market, defined as the combined value of global M2 money supply and gold.