Morgan Stanley bank is considering offering bitcoin investment


According to Bloomberg information, US bank Morgan Stanley is weighing the pros and cons of a bitcoin investment offer for its clients.

Bitcoin: Morgan Stanley does not want to be outdone

It is a big name of Wall Street, a bank soon to be a century old and renowned for its seriousness. And yet, this does not prevent Morgan Stanley from considering offering its clients to invest in bitcoin. According to information from Bloomberg, which journalists spoke to several of its employees, the bank is in the process of conducting an internal reflection on the subject.

Morgan Stanley is considering offering bitcoin to individuals through its wealth management subsidiary Counterpoint Global, which has $ 150 billion in assets. Counterpoint Global’s specialty is finding stocks of quality companies that remain undervalued.

For Morgan Stanley, just like for other financial institutions of this stature, the fact of not being able to offer bitcoin is clearly embarrassing, especially since some have already taken the plunge., like the venture capital fund Digital Currency Group, whose subsidiary Grayscale Investments has been offering its Grayscale Bitcoin Trust fund since 2013, whose shares can be easily bought on the New York Stock Exchange.

Bitcoin is slowly becoming mainstream

As interest in bitcoin grows (the price of cryptocurrency has appreciated 81% over the last 30 days), even Mastercard has announced that it will soon be offering merchants to accept bitcoin as a payment method. , while Visa plans to make it easy for cardholders to buy and sell cryptocurrency. The legitimacy of the latter seems to have gone a step further, with big names like Tesla and Square having bought bticoins for respectively 1.5 billion and 50 million dollars.

The introduction of bitcoin to Counterpoint Global’s offering would, however, require approval by its board of directors, as well as a green light from the regulator. Let us not forget that in the past, a number of renowned financial institutions had already studied the possibility of including bitcoin in their offer, before throwing in the towel, as this asset lacks security and framework. clear legal. In other words, just the fact that Morgan Stanley is considering this possibility does not mean that it will be chosen.

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