Morgan Stanley Unit Considers Bitcoin Investment: Bloomberg

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

AccessTimeIconFeb 13, 2021 at 4:00 p.m. UTC
Updated Sep 14, 2021 at 12:11 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

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.

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.


Read more about