Morgan Stanley may become the latest institution to bet on Bitcoin. It is reportedly eyeing the cryptocurrency through one of its investment arms.
Morgan Stanley might become the next major institution to jump on the Bitcoin bandwagon.
According to a recent report by Bloomberg, a unit of Morgan Stanley Investment Management called Counterpoint Global is exploring whether or not BTC would be a suitable option for its current investors.
Sourcing people familiar with the matter, the report says that moving ahead with an investment of the kind would require approval by regulators and by the company itself.
It’s also worth noting that the review might also result in Morgan Stanley deciding to stay away from the cryptocurrency.
At the time of this writing, there’s no further information on the matter. Nevertheless, Morgan Stanley does have a position in MicroStrategy, meaning that it is somewhat exposed to Bitcoin anyways.
As CryptoPotato recently reported, Tesla became the latest major corporation to announce a Bitcoin buy. The company has bought as much as $1.5 billion worth of the cryptocurrency in January. Not only that, but it also revealed they could potentially accept Bitcoin for its products.
It appears that institutional interest in the cryptocurrency continues to increase in 2021. This was further reaffirmed by the CEO of Grayscale – the leading crypto-asset manager, who said that it’s no longer a question of “why” but “why not” for institutions when it comes to Bitcoin’s merits.