Counterpoint Global – a unit of Morgan Stanley Investment Management – is investigating whether to place a bet on bitcoin, according to a report by Bloomberg News.
Citing sources, the report said the unit, which manages $ 150 billion, would need approvals from the broader company and regulators to make such an investment. Still, it represents Wall Street’s broader push for cryptocurrency, which is increasingly being seen as a protective asset against inflation.
A Morgan Stanley spokeswoman declined to comment on the Bloomberg report.
Morgan Stanley made headlines during the height of the 2017 initial coin offering bubble by exploring the launch of a possible bitcoin-like swap-like product. This product was ultimately not released.
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