Financial Mogul Morgan Stanley May Buy Bitcoin Through Its Investment Arm

Morgan Stanley might become the next major institution to jump on the Bitcoin bandwagon.

  • According to a recent report by Bloomberg, a unit of Morgan Stanley Investment Management called Counterpoint Global is exploring whether or not BTC would be a suitable option for its current investors.
  • Sourcing people familiar with the matter, the report says that moving ahead with an investment of the kind would require approval by regulators and by the company itself.
  • It’s also worth noting that the review might also result in Morgan Stanley deciding to stay away from the cryptocurrency.
  • At the time of this writing, there’s no further information on the matter.
  • Nevertheless, Morgan Stanley does have a position in MicroStrategy, meaning that it is somewhat exposed to Bitcoin anyways.
  • As CryptoPotato recently reported, Tesla became the latest major corporation to announce a Bitcoin buy.
  • The company has bought as much as $1.5 billion worth of the cryptocurrency in January.
  • Not only that, but it also revealed they could potentially accept Bitcoin for its products.
  • It appears that institutional interest in the cryptocurrency continues to increase in 2021. This was further reaffirmed by the CEO of Grayscale – the leading crypto-asset manager, who said that it’s no longer a question of “why” but “why not” for institutions when it comes to Bitcoin’s merits.

Source: Crypto Potato