Counterpoint Global, the Morgan Stanley Investment Management unit, is considering the possibility of investing in Bitcoin. Bloomberg reports.
To begin investing in cryptocurrency, the firm with assets under management of $150 billion must first secure approval from Morgan Stanley and regulators.
“Counterpoint Global, one of our active-management teams, is focused on long-term investments in companies whose market value could rise substantially for fundamental reasons,” according to Morgan Stanley’s website.
Last month the financial conglomerate Morgan Stanley acquired 11% of MicroStrategy’s shares, aggressively investing in digital gold.
Earlier, Morgan Stanley’s chief global strategist Ruchir Sharma said that Bitcoin could deprive the dollar of its reserve-currency status.
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