Counterpoint Global Investments, a unit of Morgan Stanley is considering a huge $150 billion investment in Bitcoin. It would need the approval of the firm and regulators to go ahead with the investment.
Morgan Stanley is not new to Bitcoin exposure as it owns 11% of Microstrategy that by December 2020, had acquired over $1 Billion worth of Bitcoin.
However, as previously reported by Investogist, even though analysts at Morgan Stanley think that Bitcoin can challenge the dollar as a reserve currency, they still maintain the position that most participants hold Bitcoin as an investment, and this reduces its appeal as a transaction currency.
Victor Nnadi is an Independent Economics Researcher and a Securities Trader.
