Counterpoint Global, Morgan Stanley Investment Management’s $ 150 billion investment arm, is deeply involved in Bitcoin and cryptocurrency, Bloomberg reported on Monday (February 15), citing sources.
Bitcoin and crypto are largely viewed as volatile assets struggling to enter the traditional financial industry. The acceleration in prices has sparked interest among customers and made the digital asset “unmistakable,” said Bloomberg.
The Morgan Stanley unit has made mutual fund profits and is considering whether the cryptocurrency would be a worthwhile choice for its investors, according to Bloomberg.
Cryptocurrencies have made their way into mainstream businesses, which has been accepted by Mastercard and the Bank of New York Mellon. Tesla recently got behind Bitcoin with a $ 1.5 billion investment and plans to use the digital currency and other cryptos as a means of payment. The skepticism towards Bitcoin and other cryptocurrencies focuses on the unpredictable price fluctuations and the resulting weaknesses in the acceptance of payments.
Dennis Lynch, head of Counterpoint Global, alludes to various companies that could orientate themselves on the approach that led to Bitcoin and other crypto, the article says. The group oversees around 19 funds; Five saw a 100 percent increase over the past year.
BNY Mellon Earlier this month it was announced that it was launching a new industry focused on accelerating investments in bitcoin, cryptocurrency and other digital assets. The bank said it would use blockchain to advance custody and securities services. Mastercard has announced that it will begin integrating cryptocurrency features this year, connecting Square, PayPal, BlackRock, and others to digital currencies.
Bitcoin and other cryptocurrencies mark new investment highs as celebrity speculation aligns. The Office of the Currency Auditor announced new guidelines that state-chartered banks can use stable coins for payments.
NEW PYMNTS DATA: BUY NOW, PAY LATER, CONSUMER STUDY
About: Buy Now, Pay Later: Millennials and the Changing Dynamics of Online Credit, a collaboration between PYMNTS and PayPal, examines the demand for new flexible credit options and the way consumers, especially in the millennial demographics, are paying online. The study is based on two surveys of nearly 15,000 US consumers.