Morgan Stanley’s European interns have dramatically shifted cryptocurrency holdings between 2022 and 2024, with Bitcoin ownership collapsing from 63% to 12%. This plunge signals waning confidence or interest in the leading digital asset among the cohort.
Countering the trend, XRP holdings surged from zero to 5% in the same period. Financial observers attribute this growth to improved regulatory clarity around the digital token and its strong market performance during a late-2024 rally.
Other cryptocurrencies mirrored Bitcoin’s decline, with Cardano ownership dropping from 27% to 3%. Industry analyst Austin Campbell warns this realignment reflects a growing talent drain: crypto-savvy young professionals increasingly bypass traditional banks for digital asset careers. This pattern could hinder institutional adoption and undermine traditional finance competitiveness in blockchain development.