Counterpoint Global – a unit of Morgan Stanley Investment Management – is investigating according to a Bloomberg report whether it will make a bet on bitcoin.
Referring to sources, the report said the unit, which manages $ 150 billion, would need approvals from the broader firm and regulators to make such an investment. Yet, it represents Wall Street’s broader pressure on the cryptocurrency, which is increasingly seen as an inflation-hedging asset.
A Morgan Stanley spokesman declined to comment on Bloomberg’s report.
Morgan Stanley made headlines during the peak of the initial coin bubble of 2017 to investigate the launch of a potentially exchangeable product linked to bitcoin. The product was eventually not launched.
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