Last Minute: Morgan Stanley Announced That It Can Invest In Bitcoin - News-Credit-Mortgage-Coin


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Saturday, February 13, 2021

Last Minute: Morgan Stanley Announced That It Can Invest In Bitcoin


According to a report in Bloomberg, the $ 150 billion Morgan Stanley investment arm, known for its skill in choosing stocks, is considering adding Bitcoin to the list of possible bets.

Counterpoint Global, a unit that prevailed in Morgan Stanley Investment Management's mutual fund rankings, is investigating whether cryptocurrency would be a viable option for investors, according to people who know the subject.

If Morgan Stanley confirms this, a near-century-old Wall Street company will have supported a volatile asset class that continues to be accepted by most of the traditional financial industry. But the four-month increase in four months increased customer interest, making it harder to ignore digital assets.

Wall Street giants turn to Bitcoin and crypto

Cryptocurrencies after they caught the attention of hedge fund giants, including Alan Howard and Paul Tudor Jones; It continued, attracting the attention of more companies such as Mastercard and the Bank of New York Mellon. This week alone, Tesla, the leading electricity producer, bought Bitcoin with an investment of $ 1.5 billion. It also plans to start accepting cryptocurrency as payment.

Many of the industry's skeptics focus on Bitcoin's unpredictable price fluctuations and the difficulty of access. But loyal followers felt they were right in their investment this year. As we reported as, billions of dollars are flowing into the cryptocurrency through tools including Grayscale Bitcoin Trust.

Even institutional investors, who were banned from directly holding Bitcoin by the rules of their funds, turned to such trusts. For Wall Street firms, the inability to offer Bitcoin to these customers increases the risk of losing them to other executives.

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