$150 Billion Investment Arm of Morgan Stanley Planning to Bet on Bitcoin

One of the world’s leading investment banks, Morgan Stanely, is planning to jump on Bitcoin’s rising global value, according to the latest report published by Bloomberg.

The report said Counterpoint Global, a $150 billion investment arm of Morgan Stanley known for its prowess in picking growth stocks, is planning to add bitcoin to its list of bets.

Citing people familiar with the matter, Bloomberg said Counterpoint Global is exploring whether investing in cryptocurrency would be a suitable option for its investors, however, investing in the crypto space would require approval from both the firm and regulators.

The report that Stanley, an almost-century-old investment bank, is considering investing in cryptocurrency would further boost Bitcoin and the entire crypto space among institutional investors as can be seen in the 24 hours Bitcoin chart.

Bitcoin gained 4.55 percent to $49,173 per coin in the last 24 hours after the news became public.

This is coming a week after Tesla announced its Bitcoin investment now worth $1.5 billion and plans to start accepting it and other cryptocurrencies as payment.