Morgan Stanley Unit Considers Bitcoin Investment: Bloomberg

Morgan Stanley already has a nearly 11% stake in the bitcoin-laden business intelligence company MicroStrategy.

By Zack Voell, Kevin Reynolds

Feb 13, 2021 at 4:00 p.m. UTC

Updated Sep 14, 2021 at 12:11 p.m. UTC

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Morgan Stanley's $150 billion Counterpoint Global investment unit is considering placing a bet on bitcoin, according to a report by Bloomberg, which cited people familiar with the matter.

In order to move ahead, an investment would need approval by the firm and regulators, Bloomberg noted.
If true, this investment would not be Morgan Stanley's first exposure to the leading cryptocurrency. It has a nearly 11% stake in the bitcoin-laden business intelligence company MicroStrategy, per CoinDesk's reporting.
Analysts at Morgan Stanley say bitcoin has potential to strongly compete with the dollar, but acknowledge in a recent report that the more investors "hodl" bitcoin, the weaker its appeal to be used as a currency becomes.
A spokesperson from the investment bank declined to comment.
The investment unit manages nearly 20 funds, and Bloomberg reports five of those funds returned gains over 100% last year.

CORRECTION (Feb. 13 15:57 UTC): Corrects that the investment arm has $150 billion under management.

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