The next big financial institution opens up to the market-leading cryptocurrency.
According to a report by Bloomberg, the American bank Morgan Stanley now also wants to examine a possible investment in Bitcoin
Citing „people familiar with the situation,“ reported the news portal that Morgan Stanley Investment Management, so the Department of asset management, the bank, the more than 150 billion managed dollars in assets, through its subsidiary Counterpoint Global checks whether the market-leading “cryptocurrency is a suitable option for its investors”.
As can be seen from the official website of Morgan Stanley, Counterpoint Global is a mutual fund that specializes in financial products that, due to their good fundamentals, offer a lot of room for improvement. In the current year, the investment fund is 72.7% up and outperforms the MSCI-World, which has so far only brought 16.25% return.
The sudden interest in Bitcoin is hardly surprising, as the bank holds a significant stake in the software manufacturer MicroStrategy
Cointeleraph reported back in January that MorganStanley owns 10% of the shares in MicroStrategy. The software manufacturer has blossomed into a pioneer among entrepreneurial Bitcoin investors in recent months , which has given the company’s own share a strong boost, from which MorganStanley has already benefited indirectly.
However, the bank is not the only major financial institution that is now daring to enter the crypto market. JPMorgan and payment service provider Visa have recently also confirmed their intentions to this end . If there is enough demand, they both want to make even more efforts in this direction.