United States, Feb 13, 2021 /AlexaBlockchain/ – Morgan Stanley’s $150 billion Counterpoint Global investment unit is weighing whether bitcoin would be a suitable option for its investors, according to a report by Bloomberg, which cited people familiar with the matter.
- In order to move ahead with an investment would need approval by the firm and regulators, Bloomberg noted.
- If true, this investment would not be Morgan Stanley’s first exposure to the leading digital asset. Already, it has a nearly 11% stake in the bitcoin-laden business intelligence company MicroStrategy.
- Analysts at Morgan Stanley say bitcoin has potential to strongly compete with the dollar, but acknowledge in a recent report that the more investors “hodl” bitcoin, the weaker its appeal to be used as a currency becomes.
- The investment unit manages nearly 20 funds, and Bloomberg reports five of those funds returned gains over 100% last year.
More mainstream firms are accepting Bitcoin amid recent rally.
