Morgan Stanley’s $150B Investment Arm Is Considering Adding BTC To Its Bets
Growing institutional interest in Bitcoin and other cryptocurrencies has caught the attention of another big fish who has revealed its intentions of entering the cryptocurrency market. Morgan Stanley, one of the major financial services and investment banking firms in the United States, could be the latest firm to invest in the number-one cryptocurrency of the world.
Morgan Stanley’s Counterpoint Global Is Likely To Bet On Bitcoin (BTC)
Bloomberg has reported in its latest news report while citing unknown people familiar with this matter that Morgan Stanley Investment Management’s subsidiary Counterpoint Global is exploring the idea of investing in the major cryptocurrency. Counterpoint Global is Morgan Stanley’s major unit and has $150 billion worth of assets under management.
The report stated that the firm, however, still needs to get regulatory clearance first before moving ahead. It would need to get approvals from the country’s regulatory authorities and its parent company Morgan Stanley in a bid to invest in the leading digital currency.
Though Morgan Stanley’s subsidiary has given indication towards making an investment in Bitcoin, as per the anonymous sources, it is not, however, certain so far that the company will go for investment. The firm is still in the consideration phase and may decide not to make an investment in the major cryptocurrency.
So far now, we have not come across any official statements issued by the officials of the banking giant. When a spokeswoman from the bank was asked about the report of Bloomberg, she declined to issue any comments on it. This indicates that the news is not certain so far.
However, if Morgan Stanley chooses to invest in the dominant cryptocurrency, it will be a massive achievement for the entire cryptocurrency market, particularly for the primary cryptocurrency, as it will pump up their mainstream adoption further and will boost the institutional interest for cryptocurrencies more, which is already on a peak level.
As per some reports, the latest financial firm to mark its presence in the space of digital currencies is Bank of New York Mellon (BNY Mellon), which has announced to begin offering cryptocurrency-related services to its customers.
Following the news of Morgan Stanley, the top digital asset Bitcoin has started recovering to its all-time high of $48,745.
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