According to a report published by Bloomberg today, the giant financial institution Morgan Stanley is considering investing in Bitcoin.
The company manages 150 billion dollars
It is stated that Cointerpoint Global, a subsidiary of Morgan Stanley Investment Management with an asset of 150 billion dollars, “is investigating whether cryptocurrency will be a suitable option for its investors”, the report stated that information was obtained from “people with knowledge on the subject”.
Morgan Stanley’s website defines Counterpoint Global as a specialized fund for investments whose market value can “increase significantly for fundamental reasons”. The fund increased by 72.7% year-on-year, significantly outpacing MSCI All Country World Net Index returns of 16.25%.
Given that the company has made significant investments in Microstrategy, we can say that the increased interest in Bitcoin is not a surprise. In January, Cointelegraph reported that Morgan Stanley acquired a 10% stake in Microstrategy. The company’s CEO has become a Bitcoin icon since last year announcing a strategic investment in Bitcoin.
Morgan Stanley is not the only major banking institution looking to deal with cryptocurrencies. In their Q4 earnings call, both JP Morgan and Visa reaffirmed their plans to continue their crypto payment services, and representatives of both companies stated that they could make further development if customers and market conditions demand.