Morgan Stanley is the youngest major financial institution considering investing in Bitcoin, according to a Bloomberg News report earlier this morning.
Quoting “Those in the Know,” the report states that Cointerpoint Global, a subsidiary of Morgan Stanley Investment Management with $ 150 billion in assets under management, “is examining whether cryptocurrency is an appropriate option for its investors.” Will be.”
On Morgan Stanley’s website, Counterpoint Global is described as an investment fund “the market value of which may increase dramatically for fundamental reasons.” The fund recorded a gain of 72.7% year over year, significantly outperforming the MSCI All Country World Net Index by 16.25%.
The increased interest in Bitcoin shouldn’t come as a surprise as the company has made significant investments in a microcosm strategy. In January, Cointelegraph reported that Morgan Stanley had acquired a 10% stake in Microstrategy, whose shares were in tatters, and that its CEO has become a symbol for bitcoin since the announcement of a strategic investment in bitcoin l ‘last year.
Morgan Stanley isn’t the only major banking institution looking to get into cryptocurrencies, either. JP Morgan and Visa have reiterated their intention to maintain encrypted payment services during fourth quarter earnings calls, and representatives from both companies have expressed interest in further development when customers and market conditions demand.