Morgan Stanley’s $150B Unit Considers Investing In Bitcoin

Morgan Stanley’s $150B unit Counterpoint Global considers investing in Bitcoin according to the latest reports that we have in our Bitcoin news today.

According to the report, Counterpoint Global is considering investing in bitcoin and so if the company decides to proceed with the investment, it will need to be approved by regulators. Morgan Stanley has already involved because the bank holding 10.9% shares of the business intelligence company Microstrategy. The latter paved the way for all other institutional investment companies to invest in BTC as the company started in 2020, totaling $1.125 billion worth of BTC at the end of 2020. Michael Saylor explained:

 “The returns on gold didn’t look nearly as compelling as Bitcoin. So we eventually found crypto because, in essence, in the crypto world you can create digital gold—and Bitcoin is that digital gold. And so if you’re looking for a non-fiat derivatives store of value in an inflationary environment, that’s logical that you would settle upon Bitcoin as digital gold.”

After Tesla revealed its investment of $1.5 billion in BTC, plenty of other BTC-related news followed. America’s oldest bank BNY Mellon followed Tesla’s example and introduced BTC custodial services and Mastercard also announced plans to add support for crypto later in 2021. Dan Guo who is the CEO of Broctagon Fintech Group noted:

 “NY Mellon’s and Mastercard’s introduction to the cryptocurrency space, following the recent Tesla news, signals another price boom for Bitcoin. Such a big institutional endorsement will propel digital assets even further into the main stage this year, and we expect further uptake as a result of the mainstream attention.”

Apart from these announcements, there’s a whole lot of rumors and suggestions on what the corporations could be doing next to embrace BTC and other crypto assets. Morgan Stanley’s $150B unit is one of the new companies to consider investing in Bitcoin.

Morgan Stanley may bet on Bitcoin in $150 billion investment arm, Bloomberg is reporting.

In January, Morgan Stanley boosted stake in MicroStrategy to 10.9%.

This is all happening faster than I ever imagined.

— Joseph Young (@iamjosephyoung) February 13, 2021

As recently reported, According to a filing with the Securities and Exchange Commission, the investment bank Morgan Stanley holds a 10% stake in Microstrategy as it acquired 792,627 shares in the company. The investment represented a 10.9% stake in a company that made huge investments in BTC in the past few months. The purchase happened on December 31 with Microstrategy having a colossal month as it saw its shares move from $289 to $545. Back in August, MicroStrategy took bold steps into Crypto and made BTC its main reserve asset.