Counterpoint Global, Morgan Stanley’s $150 billion investing arm, is reportedly considering adding Bitcoin to its portfolio of high-growth assets.
According to a Bloomberg report, sources familiar with the matter reveal that the investment behemoth is exploring whether the leading crypto asset is the right fit for its investors.
Counterpoint Global has managed to deliver gains of over 100% in five of its 19 funds in 2020. Notable investments in the company’s portfolio include Amazon, Shopify, Slack Technologies, Zoom, and Moderna.
Should the firm go ahead with a Bitcoin investment, which will require approval from regulators, they’ll join the growing list of financial institutions and corporations who have given in and allocated capital to Bitcoin over the last few months.
Counterpoint Global’s potential move into the world’s top cryptocurrency echoes some analysts’ predictions of institutional money getting ready to pile into BTC. Raoul Pal, macro guru and co-founder of Real Vision Finance, said in December that a tidal wave of institutions are prepared to buy Bitcoin.
“We haven’t yet got the institutions into this. They’re all coming into it. I know they are because I’m speaking to them all. I just got off the phone with the largest investment advisor firm in the United States. Their founder is teaching as many investment advisors as he possibly can why Bitcoin – they can’t invest yet because there’s no ETF – but the moment it comes, these guys have $5 trillion of assets amongst the US investment advisors community in the US alone and if they were to put 10 basis points in, that’s $5 billion immediately, but chances are it’s going to be much more because it’s a very fast-moving asset.”
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