Counterpoint International, a $150 billion unit of multinational funding financial institution Morgan Stanley, is contemplating investing in Bitcoin (BTC), educated sources instructed Bloomberg in the present day.
Morgan Stanley might wager 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 sooner than I ever imagined.
— Joseph Younger (@iamjosephyoung) February 13, 2021
Per the report, Counterpoint International is pondering whether or not Bitcoin would swimsuit its traders, the sources mentioned. If the corporate decides to proceed with the funding, it might additionally have to be permitted by regulators.
In the meantime, Morgan Stanely is already concerned—not less than considerably not directly—with Bitcoin because the 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 12 months, totaling approximately $1.125 billion value of BTC on the finish of 2020.
“The returns on gold didn’t look practically as compelling as Bitcoin,” mentioned Microstrategy CEO Michael Saylor throughout latest 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 in the event you’re on the lookout for a non-fiat derivatives retailer of worth in an inflationary setting, 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 companies. In its flip, fee behemoth Mastercard introduced its plans so as to add help for cryptocurrencies “later its 12 months.”
“NY Mellon’s and Mastercard’s introduction to the cryptocurrency area, following the latest Tesla information, alerts one other value growth for Bitcoin. Such an enormous institutional endorsement will propel digital property even additional into the principle stage this 12 months, and we count on additional uptake on account of the mainstream consideration,” mentioned Don Guo, CEO of Broctagon Fintech Group, on the time.
Other than official bulletins, there’s, after all, a complete slew of rumors and solutions on what main firms may be subsequent to embrace Bitcoin and different cryptocurrencies.
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