Morgan Stanley’s investment arm is reportedly considering a $150 million bitcoin investment

SourceBusiness Insider
SectorFinancial Markets
CountryMiddle east

An investment unit under Morgan Stanley is exploring a $150 million bitcoin buy, according to Bloomberg.   Bloomberg reported Morgan Stanley Investment Management's Counterpoint Global unit was looking into the investment, citing people familiar with the investment. Bloomberg reported the investment would require regulatory approval.  The investment would be one of several high-profile moves into cryptocurrency from well-established companies, banks, and investment firms. Bank of New York Mellon, the country's oldest financial institution, planned to offer bitcoin transactions, according to The Wall Street Journal. Mastercard on Thursday said it would allow merchants to accept select cryptocurrencies.  Read more: A crypto CEO breaks down why Tesla adding bitcoin to its balance sheet will create a 'domino effect' that lifts the cryptocurrency to $100,000 by the end of 2021 — and says Dogecoin is destined for a GameStop-style plunge Tesla also said it had invested $1.5 billion into bitcoin, sending the cryptocurrency about 16% higher early last week.

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