Counterpoint Global possesses an amount of around $ 150 billion in investments or more. The information remains unclear, and there is no official statement at the moment. The amount of money they would invest remains unknown too.
The international financial services and investment banking company Morgan Stanley would inject millions of dollars in bitcoin (BTC) through its subsidiary Counterpoint Global. The information remains unofficial, but the company is currently studying every possible option for its investors.
Bloomberg released a report on February 13; Counterpoint Global manages more than 150,000 million dollars in investments. Morgan Stanley’s thoughts and considerations appear amid a bull run on bitcoin thanks to institutional investors’ arrival.
Morgan Stanley declined to comment on what would be the largest investment in the world of cryptocurrencies. If the acquisition happens, the corporation must authorize and notify every regulatory entity.
Counterpoint Global’s investment portfolio shows that the company maintains essential bets in technology. This investment adheres to information technology, consumer goods, communication services, health care, and others.
Although this information is still unclear, its spread would cause fluctuations in bitcoin prices in the markets. According to CoinGecko records, bitcoin reached a new price of $ 49,531 per unit this Sunday.
Morgan Stanley Shows Sympathy for Bitcoin
For years Morgan Stanley has described bitcoin and cryptocurrencies in general as a good alternative for the markets. Morgan Stanley seriously considers the definitive step to acquire them directly, participate in a trust or derivative related to BTC.
In November 2018 that Morgan Stanley viewed Bitcoin as a new kind of institutional investment. The bank assured that Bitcoin went from being digital money between 2009 and 2016 to become a new institutional investment asset in 2017.
At this point, there are some questions in the air about why Morgan Stanley did not invest in BTC two years ago. Why is he making this decision now? The arrival of corporate capital such as that of Tesla, MicroStrategy, Ruffer, or Grayscale could be changing the rules of the game.
More recently, in December 2020, executive Ruchir Sharma, Morgan Stanley’s global head of investment strategy, discussed in a debate that BTC could undermine the dollar’s reign. “Cryptocurrencies like bitcoin show themselves as decentralized and democratic alternatives,” Sharma argued at the time.
2020 is a year that marked in a positive way institutional investments like Bitcoin and other vital cryptocurrencies. According to the information from the service Bitcoin Treasuries, corporations have allocated more than 45 billion dollars in the first cryptocurrency.
Bitcoin’s unpredictable price is always swinging, and it seems to be still looking for a secure spot in the market after more than a decade since it saw the public light. But followers received this year as a reward for the famous cryptocurrency.
By: Jenson Nuñez
