This article briefly:
•Morgan Stanley stated that Bitcoin’s market capitalization is comparable to that of major economies and its impact on global finance is undeniable.
•Rapid adoption of stablecoins has spurred interest in central bank digital currencies, which account for more than 95% of global GDP.
•Morgan Stanley’s 2024 outlook highlights the critical role of cryptocurrencies in reshaping the global financial system.
With rapid advances in technology and changes in the geopolitical landscape, the global financial system is at a crossroads. The U.S. dollar’s dominance faces challenges from emerging cryptocurrencies such as Bitcoin.