A $150 billion investment unit of Morgan Stanley is exploring bitcoin: report
February 13, 2021, 10:57AM EST
1 min read
Counterpoint Global—a unit of Morgan Stanley Investment Management—is exploring whether it will make a bet on bitcoin, according to a Bloomberg News report.
Citing sources, the report said that the unit, which manages $150 billion, would need approvals from the wider firm and regulators to make such an investment. Still, it represents Wall Street's broader push into the cryptocurrency, which is increasingly being viewed as an inflation hedge asset.
A spokeswoman for Morgan Stanley declined to comment on Bloomberg's report.
Morgan Stanley made headlines during the height of the 2017 initial coin offering bubble for exploring the launch of a possible swap-like product tied to bitcoin. That product, ultimately, did not launch.