According to Bloomberg, an investment entity under Morgan Stanley is considering a $ 150 million Bitcoin purchase.

Bloomberg reported that Morgan Stanley Investment Management’s Counterpoint Global division was investigating the investment and citing people who were familiar with the investment. Bloomberg reported that the investment requires regulatory approval.

The investment would be one of several high-profile measures by established companies, banks and investment firms in the cryptocurrency. The Bank of New York Mellon, the country’s oldest financial institution, planned to offer bitcoin transactions, according to the Wall Street Journal. Mastercard said Thursday it would allow merchants to accept select cryptocurrencies.

Read More: A Crypto CEO Explains Why Tesla is creating a “domino effect” by adding Bitcoin to its balance sheet that will push the cryptocurrency to $ 100,000 by the end of 2021 – and says Dogecoin is for a GameStop style jump certainly

Tesla also said it invested $ 1.5 billion in bitcoin and increased the cryptocurrency by 16% early last week. Twitter said Wednesday it was considering adding some bitcoin to its balance sheet.

The reports drove Bitcoin prices soaring, bringing them above $ 48,000 for the first time last week. Bitcoin has gained about 60% so far this year.

Some at Morgan Stanley have been bearish about the cryptocurrency in the past. For example, in 2017 an analyst at Morgan Stanley said the real value of Bitcoin was zero. At the time, Bitcoin was trading at around $ 14,400.

At least one Bitcoin backer predicted its price would soar to $ 100,000 this year, but some commentators have urged investors to stay away from the cryptocurrency while it trades at all-time highs. About 1,000 investors called whales control roughly 40% of the Bitcoin market.

US Treasury Secretary Janet Yellen said this week that Bitcoin is “a growing problem”.

“I see the promise of these new technologies, but I also see the reality: cryptocurrencies were used to launder the profits of online drug traffickers; they were a tool used to finance terrorism,” Yellen said.