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Morgan Stanley Set to Explore More BTC Related Ventures
After stashing monies up to 11% of Microstrategies’ entire worth in the Pro-BTC firm, giant investment bank, Morgan Stanley is set to explore more BTC investments. Bloomberg disclosed that Morgan Stanley’s worldwide “Investment Unit” which is valued at $150 billion is set to leverage even more on the leading currency. Bloomberg’s publication highlights the figures that are in the know of this move.
It may interest you to know that Morgan Stanley’s Investment Unit did a 100% returns on all its 20 funds.
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Bloomberg’s Report emphasized that for the giant bank to go on with this investment move, it will need permission from the US regulators as well as the corporation as a whole.
Nevertheless, this move is not new to one of the largest investment banks in the world. It already owns more than 11% of Microstrategy’s investment. Microstrategy is a “bitcoin-laden business intelligence company” that is heavily invested in BTC. It’s popular image and CEO- Michael Saylor is an articulate die-hard fan of bitcoin.
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Although the financial experts at Morgan Stanley believe that the leading currency, bitcoin (BTC, -2.02%) is capable of giving the dollar a run for its money and plausibly sit as the central currency, they emphasize that if the hodlers of the currency continue to hoard, the less the mass populace’s attraction to the leading currency. This is as per the company’s new publication.
What is your take on the above especially seeing that many institutional investors are set to take on the crypto sector? Let us read your comment below.
