Report: Morgan Stanley’s $150 billion arm contemplates Bitcoin funding
Counterpoint International, a $150 billion unit of multinational funding financial institution Morgan Stanley, is contemplating investing in Bitcoin (BTC), educated sources informed Bloomberg at the moment.
Morgan Stanley might guess on Bitcoin in $150 billion funding arm, Bloomberg is reporting.
In January, Morgan Stanley boosted stake in MicroStrategy to 10.9%.
That is all occurring quicker than I ever imagined.
— Joseph Younger (@iamjosephyoung) February 13, 2021
Per the report, Counterpoint International is pondering whether or not Bitcoin would go well with its traders, the sources stated. If the corporate decides to proceed with the funding, it could additionally have to be accepted by regulators.
In the meantime, Morgan Stanely is already concerned—at the least considerably not directly—with Bitcoin for the reason that financial institution at the moment holds 10.9% shares of enterprise intelligence agency Microstrategy. The latter arguably paved the best way for institutional investments in Bitcoin after the agency started investing in Bitcoin final yr, totaling approximately $1.125 billion value of BTC on the finish of 2020.
“The returns on gold didn’t look almost as compelling as Bitcoin,” stated Microstrategy CEO Michael Saylor throughout current Binance Blockchain Week, including, “So we ultimately discovered crypto as a result of, in essence, within the crypto world you possibly can create a digital gold—and Bitcoin is that digital gold. And so should you’re in search of a non-fiat derivatives retailer of worth in an inflationary atmosphere, that’s logical that you’d settle upon Bitcoin as digital gold.”
After tech large Tesla additionally revealed its $1.5 billion funding in BTC, a storm of Bitcoin-related information and bulletins from main firms adopted.
Only recently, America’s oldest financial institution BNY Mellon adopted Tesla’s instance and launched Bitcoin custodial providers. In its flip, fee behemoth Mastercard introduced its plans so as to add assist for cryptocurrencies “later its yr.”
“NY Mellon’s and Mastercard’s introduction to the cryptocurrency area, following the current Tesla information, indicators one other value growth for Bitcoin. Such an enormous institutional endorsement will propel digital property even additional into the primary stage this yr, and we anticipate additional uptake because of the mainstream consideration,” stated Don Guo, CEO of Broctagon Fintech Group, on the time.
Aside from official bulletins, there’s, in fact, a complete slew of rumors and solutions on what main firms is perhaps subsequent to embrace Bitcoin and different cryptocurrencies.
Like what you see? Subscribe for each day updates.
