Morgan Stanley on Bitcoin. Table of Contents
Story of Morgan Stanley’s $150 Billion Investment in Bitcoin
It seems that Morgan Stanley, through its Counterpoint Global subsidiary, is also looking for direct exposure to the Bitcoin market.
According to a report recently released by Bloomberg News, Morgan Stanley is the most recent major financial institution to be considering an investment in Bitcoin.
Citing “people familiar with the matter,” the report said Counterpoint Global, a subsidiary of Morgan Stanley Investment Management with $150 billion in assets under management, “is looking into whether cryptocurrency would be a suitable option for its investors.”
Morgan Stanley’s website describes Counterpoint Global as a specialist investment fund “whose market value can significantly increase for reasons related to underlying fundamentals.”
Over the past year, the fund recorded a profit of 72.7%, far outpacing the returns of the MSCI All Country World Net Index of 16.25%.
The Growing Interest in Bitcoin
The growing interest in Bitcoin isn’t exactly a surprise, as the company has already invested heavily in MicroStrategy.
In January, Cointelegraph reported that Morgan Stanley had secured a 10% stake in MicroStrategy, whose CEO has become the Bitcoin icon on Wall Street since the announcement of a strategic investment in BTC last year.
Morgan Stanley isn’t the only major banking institution intending to enter cryptocurrencies.
In their Q4 earnings reports, both JP Morgan and Visa confirmed plans to introduce crypto payment services, and representatives from both companies have expressed interest in the technology.
Morgan Stanley considers Bitcoin bet!
Morgan Stanley quietly bought in an 11% stake of MicroStrategy around the turn of the year.
MicroStrategy bought large amounts of BTC/USD leading some to call it an unofficial ‘crypto ETF’.
Morgan Stanley’s $150 billion counterpoint Global investment unit is now considering placing a bet in Bitcoin.They think the BTUCSD has the potential to compete with the dollar.
Bitcoin made all-time highs yet again yesterday!
The popularity of Bitcoin seems unstoppable. PayPal, Visa, Mastercard, Amazon, and Tesla have all been linked with supporting the recent crypto rise.
Remember, that as the fever pitch increases around Bitcoin, so too will the volatility! Always manage your risk carefully. Fortunes are made and lost in these kinds of large moves.
Will we see further BTC/USD dip buyers?
Comment by Hans
April 24, 2024
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