A report said that Morgan Stanley is the latest major financial institution to consider an investment in Bitcoin.
It has been reported by Counterpoint Global that a subsidiary of Morgan Stanley Investment Management with $150 billion in assets under management, “is exploring whether the cryptocurrency would be a suitable option for its investors.”
However, Morgan Stanley’s website describes Counterpoint Global as a fund specializing in investments “whose market value can increase significantly for underlying fundamental reasons.” The fund is up 72.7% on the year, significantly outperforming the MSCI All Country World Net Index returns of 16.25%.
The report said that the growing interest in Bitcoin should not necessarily come as a surprise, given that the company has made a significant investment in Microstrategy.
After a monster purchase of a 10% stake in Microstrategy, Morgan Stanley now looks to gain direct exposure to #Bitcoin via one of their investment arms https://t.co/LGYZdKRN8V — Cointelegraph (@Cointelegraph) February 13, 2021
In January, Morgan Stanley had purchased a 10% stake in Microstrategy, whose stock has been on a tear and whose CEO has become a Bitcoin icon since announcing a strategic investment in Bitcoin last year.
Thus, on their q4 earnings calls, both JP Morgan and Visa reaffirmed plans to maintain crypto payment services, and representatives of both companies expressed interest in further development if clients and market conditions demanded.
Source: Cointelegraph