• bitcoinBitcoin$27,280.001.47%
  • ethereumEthereum$1,908.192.21%
  • elrond-erd-2MultiversX$37.661.66%

Morgan Stanley Takes Bitcoin Into Consideration for $150 Billion Investment Wing

Bloomberg News reported today that Morgan Stanley is the newest name in the list of important financial institutions that consider investing in Bitcoin.

The report cites “people with knowledge of the matter” and mentions that Counterpoint Global, which is a subsidiary of the Morgan Stanley Investment Management and has $150 billion in assets under management, “is exploring whether the cryptocurrency would be a suitable option for its investors.”

Counterpoint Global is described by Morgan Stanley‘s website as being a fund that is specialized in investments “whose market value can increase significantly for underlying fundamental reasons.” The fund registered a growth of 72.7% on the year, which puts it over the MSCI All Country World Net Index returns of 16.25%.

Obviously, this interest shown in Bitcoin isn’t exactly a surprise if we take into consideration the fact that the company has already made significant investments in Microstrategy. In January, it was reported that Morgan Stanley made a purchase of 10% in Microstrategy stakes that had stocks on a tear and whose CEO just became a Bitcoin legend after he announced a strategic investment in Bitcoin in late 2020.

Previous articleNext article

Leave a Reply

Your email address will not be published. Required fields are marked *