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Morgan Stanley May Bet on Bitcoin in $150 Billion Investment Arm
Summary: According to Bloomberg, Counterpoint Global, a $150 billion Morgan Stanley investing arm known for its prowess in picking growth stocks is considering adding Bitcoin to its list of possible bets. Counterpoint Global, which racked up wins in mutual-fund rankings, is exploring whether the cryptocurrency would be a suitable option for its investors, according to people with ...
According to Bloomberg, Counterpoint Global, a $150 billion Morgan Stanley investing arm known for its prowess in picking growth stocks is considering adding Bitcoin to its list of possible bets. Counterpoint Global, which racked up wins in mutual-fund rankings, is exploring whether the cryptocurrency would be a suitable option for its investors, according to people with knowledge of the matter. Moving ahead with investments would require approval by the firm and regulators.
If true, this investment would not be Morgan Stanley's first exposure to the leading cryptocurrency. Already, it has a nearly 11% stake in the bitcoin-laden business intelligence company MicroStrategy, per CoinDesk's reporting.
by Sara Zhang
Tags: Bitcoin,Bitcoin (BTC)
Link: Morgan Stanley May Bet on Bitcoin in $150 Billion Investment Arm [Copy]
