Even the big banks want to be a part of the Bitcoin action as Morgan Stanley moves to move more towards digital assets. It cannot be denied that institutions and big players are the catalysts of this current crypto market cycle and this idea has been reaffirmed with Morgan Stanley’s latest acquisition.

 

According to reports, Morgan Stanley’s investment management arm raised its stake in the Bitcoin tool MicroStrategy Inc. to over 10% late last year.

The move shows the growing interest of major banks in crypto assets that pay more attention to the field.

 

Enterprise risk increase

According to Bloomberg, the bank unit held 792,627 shares of MicroStrategy at the end of December, according to an application to the US Securities and Exchange Commission.

In the report, MicroStrategy CEO Michael Saylor added that Bitcoin has been an outspoken advocate of investing more of the firm’s money into assets in recent months.

According to the report, MicroStrategy stock has increased by 37% this year as the cryptocurrency is up.

Large corporate funds such as Grayscale continue to grow in terms of managed assets. The firm’s latest tweet shows that it currently totals $ 28.4 billion. 85% of this figure is kept in the Grayscale Bitcoin Trust.

See Also
New Bitcoin Forecast from Analyst Knowing $ 3,200 in 2018

It is clear that large banks and institutional-level funds are seeing Bitcoin and digital assets as a safeguard against the failed monetary policy of global central banks. As the Covid 19 outbreak shows no signs of slowing down, global money printers continue to print money literally around the clock as governments strive to keep their collapsing economies afloat.

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