A large U.S.-based investment bank, Morgan Stanley, is reportedly negotiating the purchase of shares in the leading South Korean cryptocurrency exchange Bithumb. They have provided the information so far Korean media.
Morgan Stanley wants to buy the Bithumb cryptocurrency exchange
The information was provided by Naver, citing its anonymous source in Bithumb.
Something might be up. Already in September last year, the accounting firm Samjong KPMG, Bithumb adviser on mergers and acquisitions, confirmed to the portal Cryptonews.comthat the stock market is actually for sale. The price can be impressive. It is suggested that the amounts are between $ 430 and $ 602 million.
Currently, Cryptonews.com has contacted both Morgan Stanley and Bithumb for comment on the above-described matter. So far, both entities have not responded to the portal’s e-mail.
Morgan Stanley enters the cryptocurrency market
Meanwhile, Morgan Stanley himself is increasingly opening up to Bitcoin and cryptocurrencies. This week, it was revealed that the bank intends to offer its most affluent clients three Bitcoin-linked (BTC) funds. The new offer is expected to appear on the market next month.
If Morgan Stanley actually buys the stake in Bithumb, it will not be the bank’s first such investment.
According to a notice filed at the headquarters of the US Securities and Exchange Commission (SEC), released on January 8, the investment bank acquired 792,627 shares of Business Intelligence MicroStrategy. This investment accounted for 10.9 percent. shares of a company that has made huge investments in the Bitcoin market in the last few months.
Recently, we have seen large Wall Street entities enter the BTC market. For example, JP Morgan now introduces to its offer structured bonds related to “J.P. Morgan Cryptocurrency Exposure Basket ”. It is an investment basket consisting of 11 shares of companies listed on the US stock exchange. According to the bank, these companies are directly or indirectly related to cryptocurrency assets. It included, among others MicroStrategy, Square, Riot Blockchain or NVIDIA Corporation shares. Added to this were PayPal’s securities.