There is no denying that institutions and the big players have been the catalyst for this current crypto market cycle and that notion has been reaffirmed by Morgan Stanley’s latest acquisition.
According to reports, Morgan Stanley’s investment management arm boosted a stake in Bitcoin vehicle MicroStrategy Inc. to more than 10% late last year.
The move signifies a growing interest in crypto assets from major banks which are clearly paying more attention to the space.
Morgan Stanley just filed an SEC form declaring they now own 792,627 shares (10.9%) of MicroStrategy.
They’ve increased their position by 360%, adding almost 650,000 shares since Q3 2020.
Even the banks want Bitcoin