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October 4, 2022
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Bank Morgan Stanley is considering investing in Bitcoin –

Bank Morgan Stanley is reportedly considering investing in Bitcoin. Thus, it would be the next big player in the global market to buy cryptocurrencies.

Bank Morgan Stanley to buy BTC?

Yahoo in your new article cites people around the bank who say Cointerpoint Global, a subsidiary of Morgan Stanley Investment Management with assets of $ 150 billion, “Explores whether cryptocurrency would be a suitable option for its investors.”

The Morgan Stanley website describes Counterpoint Global as a fund that specializes in investments, “Whose market value can increase significantly for fundamental reasons.” The fund has already increased by 72.7%. per year, significantly exceeding, for example, the profits of the MSCI All Country World Net Index, which amounted to 16.25 percent.

The biggest ones want to buy cryptocurrencies

Morgan’s growing interest in Bitcoin should not necessarily come as a surprise to us. It is worth recalling that the bank has already made significant investments in Microstrategy. In January, the media reported that Morgan Stanley had bought as much as 10 percent. shares in Microstrategy. It is a company whose CEO has already become a living icon of the Bitcoin market. The company bought the first cryptocurrencies in 2020.

Morgan Stanley is also not the only major banking institution looking to engage in the cryptocurrency market.

As we wrote yesterday, the largest American investment bank JPMorgan Chase also takes into account the fact that it will have to invest in Bitcoin. This is the opinion of the vice president of the institution, Daniel Pinto, who said on Friday that the bank’s decision to introduce cryptocurrency services will depend on customer demand for trading them. While the current demand is not strong enough today, Pinto believes it may continue to rise.

– If an asset class develops over time that will be used by different asset managers and investors, we will need to be involved […] The demand is not there yet, but I am sure there will be one at some point – He said.

This is all the more surprising that in 2017 one of the loudest critics of BTC was the head of JPMorgana – Jamie Dimon. He believed that cryptocurrency was a scam.

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