Banks are starting to become Bitcoin-friendly one by one! Now, the CEO of Morgan Stanley made a cryptocurrency statement at Davos!

Morgan Stanley CEO Ted Pick announced today that the bank is exploring ways to deepen its participation in crypto markets and is working closely with US regulators to navigate the environment that emerged under the crypto-friendly Trump administration.

"Speaking to CNBC's Andrew Ross Sorkin at the World Economic Forum in Davos, Switzerland, Pick discussed the bank's cautious but forward-looking approach to cryptocurrencies. Pick said, 'The equation for us revolves around whether we can act as a processor as a highly regulated financial institution' and added, 'We will work with the Treasury and other regulators to find out how we can offer this safely.'"

Morgan Stanley has a pioneering history among traditional financial institutions in the use of cryptocurrency. The bank became the first major US bank to offer Bitcoin funds to its wealthy clients in 2021. Last year, the bank further advanced its commitment by leading efforts to provide BTC exchange-traded funds in response to the increasing demand from customers to be exposed to crypto.

However, under the Biden administration, banks faced stricter restrictions on participation in digital assets. While trading desks may deal with Bitcoin derivatives, direct ownership of "physical" BTC was prohibited. Goldman Sachs CEO David Solomon reiterated this view earlier this week, indicating that regulatory hurdles continue to be a significant barrier.

Solomon said, 'At the moment, from a regulatory perspective, we can't own BTC,' and added, 'If the world changes, we can have a discussion about it.'

Despite past scandals in the pick, variable trading, and industry, Bitcoin has expressed cautious optimism about its long-term viability. Currently trading above $100,000, BTC may be approaching what it calls "escape velocity".

Pick said, "A more comprehensive question is whether any part of it has matured, whether it has reached escape velocity," and added, "Time is the friend of crypto; the longer it trades, the perception becomes reality."