American investment bank mastodont Morgan Stanley has become the next major financial institution to be contemplating investing in Bitcoin. This was revealed by Bloomberg.
Citing “people informed regarding the matter,” Bloomberg claims that Counterpoint Global, a subsidiary company of Morgan Stanley Investment Management that handles $150 billion in assets, “is analysing whether cryptocurrency will be an appropriate option for investors.”
Morgan Stanley’s webpage defines Counterpoint Global as an investment fund with “compelling fundamental reasons to rise in market value.” The fund grew 72.7% year on year in 2020.
The investment bank’s growing interest in Bitcoin came as no surprise as Morgan Stanley has already made significant investments in the company MicroStrategy. In January Morgan Stanley acquired 10% of MicroStrategy shares, which were on the rise and whose CEO has become a crypto enthusiast’s idol since last year when he announced strategic investments in Bitcoin.
Morgan Stanley is not the only major banking institution that has expressed a desire to engage in cryptocurrencies. American financial holding JPMorgan Chase shows considerable interest in Bitcoin. In early February, payment giant Visa announced a service for the purchase and sale of cryptocurrencies through credit institutions. A few days ago, MasterCard reported that it plans to provide merchants with the ability to accept cryptocurrency payments within their network.
