Morgan Stanley investment arm considers placing bet on Bitcoin

Morgan Stanley, one of the largest investment banks in the United States, is the latest major banking group to consider investing in cryptocurrency, based on a Bloomberg news Saturday.

Counterpoint Global, Morgan Stanley’s $150 billion investment arm, plans to bet on bitcoin (BTC), marking the second exposure of the financial institution to the world’s top digital currency.

Already, the New York-based banking giant, whose influence in the financial sector is massive, has nearly 11% share in the bitcoin-weighted business intelligence company MicroStrategy, according to CoinDesk.

Strategic investment

Cointelegraph reported last month that stocks of MicroStrategy have been skyrocketing and whose chief executive, Michael J. Saylor, has become a big name in the bitcoin industry since making public a strategic investment in the crypto last year.

Citing sources with knowledge of the matter, reports say that Counterpoint Global is currently looking at possibilities on whether bitcoin would be a worthy option for its investors.

Hours before news of Morgan Stanley‘s proposed bitcoin investment was released, the price of the crypto fell by almost 4%, from $48,000 to as low as $46,252 on Binance.

BTC started to bounce back, soaring from around $46,300 to more than $47,300 when the news broke.


Counterpoint Global manages almost 20 funds, and five of those returned gains of more than 100% in 2020, Bloomberg disclosed.

The investment unit’s mutual funds have consistently made it to the top of the rankings in recent years. Counterpoint’s major investors include Amazon, Shopify, Zoom, Slack Technologies, and Moderna Inc.

Counterpoint’s fund has increased more than 72% so far this year, significantly surpassing the MSCI All-Country World Net Index returns of 16.25%, as per CoinTelegraph figures.

With Dennis Lynch at the helm, Counterpoint Global has expanded with the objective of investing in distinct companies whose market value has the potential to grow significantly.

Image courtesy of Cointelegraph News/YouTube 

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