Leading U.S. Bank Morgan Stanley Added Millions Of Grayscale Bitcoin Shares In Q3

Leading U.S. Bank Morgan Stanley Added Millions Of Grayscale Bitcoin Shares In Q3

Key takeaways The U.S.’s multinational investment bank, Morgan Stanley, added over 2 million shares of Grayscale Bitcoin Trust (GBTC) in Q3.  Total holdings now stand at over 8 million shares. The addition is coming at a time when GBTC has been facing competition from Bitcoin futures ETFs. SEC filings by leading global investment bank and […]

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NYDIG Registers for a Bitcoin ETF, Morgan Stanley Named a Participant in SEC Filing

NYDIG Registers for a Bitcoin ETF, Morgan Stanley Named a Participant in SEC FilingJust recently, during Microstrategy’s “Bitcoin for Corporations” event, Stone Ridge Asset Management and New York Digital Investment Group (NYDIG) founder, Ross Stevens, explained that he sees a “wall of money” entering the bitcoin space. A week later after that statement, NYDIG has revealed that the company has filed for a bitcoin exchange-traded fund (ETF) and […]
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Morgan Stanley Massively Increases Bitcoin Exposure Through Microstrategy

Morgan Stanley Massively Increases Bitcoin Exposure Through MicrostrategyGlobal investment bank Morgan Stanley has increased its bitcoin exposure manyfold by investing in Microstrategy, the Nasdaq-listed company which currently holds about 70,470 bitcoins. Morgan Stanley now has a 10.9% stake in Microstrategy. ‘Even Banks Want Bitcoin’ Global financial services firm Morgan Stanley has significantly increased its exposure to bitcoin, the company’s filing with the […]
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Morgan Stanley now holds 10% stake in Michael Saylor’s MicroStrategy

MicroStrategy’s massive push into Bitcoin is paying off, with shares skyrocketing and huge new investment from Morgan Stanley.

Per a filing with the Securities and Exchange Commission released on Jan. 8, investment bank Morgan Stanley had acquired 792,627 shares in business intelligence firm MicroStrategy. The investment represents a 10.9% stake in a firm that has made massive investments in Bitcoin over the past several months. 

The purchase apparently happened on Dec. 31. MicroStrategy has had a colossal month, seeing its shares move from $289 on Dec. 8 to $545 as of Jan. 8. 

Source: NASDAQ

In August, MicroStrategy took bold steps into crypto, making Bitcoin its primary reserve asset. At the time, CEO Michael Saylor said of the firm’s choice:

“This is not a speculation, nor a hedge. It is a deliberate corporate strategy to adopt the Bitcoin Standard.”

Just weeks ago, MicroStrategy announced a $400 million securities offering with the stated purpose of raising funds to buy more Bitcoin. As of Dec. 21, the firm had stockpiled 70,470 Bitcoin. 

At prices as of publication time, MicroStrategy’s BTC stockpile was worth over $2.8 billion. 

Institutional investors like Morgan Stanley have warmed up to crypto assets considerably over the past year. Many have attributed Bitcoin’s recent bull market to this institutional uptick, as compared to the retail FOMO that was so critical to BTC’s 2017 highs, which subsequently fell apart. 

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Millennials Prefer Bitcoin To Gold, Morgan Stanley Chief Strategist Asserts

Millennials Prefer Bitcoin To Gold, Morgan Stanley Chief Strategist Asserts

Millennial investors are more comfortable holding bitcoin in the portfolios instead of traditional assets like gold. That’s according to Ruchir Sharma, chief global strategist and head of emerging markets at Morgan Stanley. He revealed this in an interview with CNN’s Julia Chatterley. Bitcoin: An Asset For The Adventurous In the September 8 interview, Sharma noted […]

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