Morgan Stanley's $150 Billion Unit Plans to Bet on Bitcoin

Alex Dovbnya

American banking giant Morgan Stanley is reportedly exploring Bitcoin

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Sat, 02/13/2021 - 15:45

Morgan Stanley's $150 Billion Unit Plans to Bet on Bitcoin

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According to a Feb. 13 report by Bloomberg, Counterpoint Global, a $150 billion unit of American multinational investment bank Morgan Stanley, is exploring a Bitcoin bet.

Citing anonymous sources familiar with the matter, the article says that the major banking company is currently mulling over adding the cryptocurrency as an investment. Such a move that would have to clear regulatory hurdles first.

Morgan Stanley Hires Ex-Credit Suisse Banker to Run Digital Assets Department

Morgan Stanley’s foray into Bitcoin is anything but certain at this point, and the banking giant could still choose not to invest in the cryptocurrency.

As reported by U.Today, the Bank of New York Mellon announced that it would launch cryptocurrency custody and trading earlier this week.

Meanwhile, JPMorgan Chase is reportedly being actively pressured to get into Bitcoin by its own traders.

#Bitcoin News

About the author

Alex Dovbnya

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.