Morgan Stanley to consider Bitcoin for $150 billion investment wing



According to a Bloomberg News report this morning, Morgan Stanley is the latest major financial institution to consider investing in Bitcoin.

Citing “people with knowledge of the matter,” the report says Cointerpoint Global, a subsidiary of Morgan Stanley Investment Management with $ 150 billion in assets under management, is “exploring whether cryptocurrency will be a suitable choice for its investors.”

Morgan Stanley describes Counterpoint Global as a fund that specializes in investments “whose market value can increase dramatically for fundamental fundamental reasons”. The fund surged 72.7% over the year, significantly outperforming the MSCI All Country World Net index of 16.25%.

The growing interest in Bitcoin shouldn’t necessarily come as a surprise, given that the company has invested heavily in Microstrategy. In Janurary, Cointelegraph reported that Morgan Stanley has bought a 10% stake in Microstrategy, whose stock has been in turmoil and has become CEO of Bitcoin token since announcing a strategic investment in Bitcoin last year.

Morgan Stanley isn’t the only major banking institution looking to participate in cryptocurrencies, too. In fourth-quarter earnings calls, JP Morgan and Visa reaffirmed plans to maintain cryptocurrency payment services, and representatives of the two companies expressed interest in further development if customer demand and market conditions.