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.
- 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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