Morgan Stanley is the latest major financial institution to consider investing in bitcoin, according to Bloomberg News this morning.
The report notes that People with Subject Knowledge, a subsidiary of Morgan Stanley Investment Management with $ 150 billion in assets under management, “is investigating whether cryptocurrency is an appropriate option for investors.”
Morgan Stanley describes Counterpoint Global as a fund that specializes in investments “whose market value can increase dramatically for key reasons”. The fund grew by 72.7% during the year, which is largely in line with the MSCI All Country World Net Index of 16.25%.
The growing interest in Bitcoin should not necessarily come as a surprise given that the company has invested heavily in Microstrategy. In January, Cointelegraph reported that Morgan Stanley had bought 10% of Microstrategy, whose shares exploded in tears, and he became CEO of the Bitcoin token after announcing a strategic investment in Bitcoin last year.
Morgan Stanley is also not the only major banking institution that wants to handle cryptocurrencies. During the earnings discussions in the fourth quarter, JP Morgan and Visa confirmed the plans to support cryptocurrency payment services, and representatives from the two companies expressed interest in further development if necessary depending on customer and market conditions.