July 27, 2021

Bitcoin Nears $ 50,000, New Record Morgan Stanley May Invest By Investing.com

© Reuters.

Investing.com – Le set a new record close to $ 49,500 on Sunday, so the major psychological threshold of $ 50,000 is within reach.

In recent months, Bitcoin has been supported by figures such as Paul Tudor Jones and Stan Druckenmiller. Bloomberg reported earlier that Morgan Stanley (NYSE 🙂 could bet on Bitcoin in its $ 150 billion investment leg,

Recall that Bitcoin was supported last week following an announcement that BNY Mellon plans to provide a cryptocurrency custody service for its customers. The previous week, Tesla (NASDAQ 🙂 had even more violently jumped the Bitcoin by announcing to have bought for 1.5 billion dollars of Bitcoins.

But this weekend, it appears that Bitcoin’s main bullish catalyst was the announcement that a $ 150 billion investment unit, Morgan Stanley, is considering adding Bitcoin to its list of possible bets.

Counterpoint Global would indeed study whether cryptocurrency would be an appropriate option for its investors, according to people close to the bank cited by Bloomberg.

A Morgan Stanley spokesperson declined to comment, BBG notes.

Counterpoint Global, led by Dennis Lynch, has grown by leveraging unique companies whose market value can increase significantly.

The group oversees around 19 funds, five of which achieved more than 100% gains in 2020. Its mutual funds have consistently held the top spot in recent years.

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