Morgan Stanley may bet on Bitcoin in $150 billion investment arm
Counterpoint Global, a unit of Morgan Stanley Investment Management with $150 billion in assets under management is considering investing in Bitcoin, according to Bloomberg on Feb 13.
Counterpoint Global is a fund specializing in investments “whose market value can increase significantly for underlying fundamental reasons.” The fund is up 72.7% on the year, significantly outperforming the MSCI All Country World Net Index returns of 16.25%, Morgan Stanley’s website describes.
Morgan Stanely is already involved—at least somewhat indirectly—with Bitcoin since the bank currently holds 10.9% shares of business intelligence firm Microstrategy.
Morgan Stanley’s affirmation would put the heft of an almost-century-old marquee Wall Street name behind a volatile asset class that’s still struggling to win acceptance in much of the traditional financial industry. But a four-fold jump in four months has stoked customers’ interest, making the digital asset even harder to ignore.
Recently, America’s oldest bank BNY Mellon followed Tesla’s example and introduced Bitcoin custodial services. In its turn, payment behemoth Mastercard announced its plans to add support for cryptocurrencies “later its year.”
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- Morgan Stanley’s $150 Billion Counterpoint Global Investment Unit Is Considering Placing A Bet On Bitcoin