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Morgan Stanley contemplates bitcoin investment

 

Morgan Stanley’s $150 billion Counterpoint Global investment unit is considering placing its own bitcoin bet, according to a report by Bloomberg. It wouldn’t be the company’s first exposure to crypto, though, as it currently has a nearly 11% stake in bitcoin-bountiful MicroStrategy. The investment unit manages nearly 20 units, five of which returned gains over 100% in 2020.

 

Analysts at Morgan Stanley have said bitcoin has the potential to strongly compete with the dollar but also acknowledged that the more investors hold bitcoin, the less viable it is to be used as a day-to-day currency.

 

Miami considers adding BTC to its balance sheet

 

It’s not only companies looking at crypto with googly eyes – the City of Miami is now officially considering shifting some of its reserves into Bitcoin.

 

On Friday, the city’s governing commission passed a resolution that it will look into the possibility of investing government funds into bitcoin, thanks to its bullish Mayor Francis Suarez. The resolution also suggests analysing the feasibility of allowing government employees to receive some or all of their wages in crypto, and on allowing citizens to pay property taxes or city fees using crypto.[/vc_column_text][/vc_column][vc_column width=”1/4″ offset=”vc_hidden-sm vc_hidden-xs”][stm_sidebar sidebar=”527″][/vc_column][/vc_row][vc_row full_width=”stretch_row” css=”.vc_custom_1459505959648{margin-bottom: -60px !important;}” el_class=”third_bg_color”][vc_column][vc_cta h2=”Looking for a First-Class Business Plan Consultant?” h2_font_container=”font_size:20px|color:%23002e5b|line_height:24px” h2_use_theme_fonts=”yes” shape=”square” style=”flat” add_button=”right” btn_title=”get a quote” btn_style=”flat” btn_color=”theme_style_2″ btn_align=”right” btn_i_align=”right” btn_i_icon_fontawesome=”fa fa-chevron-right” use_custom_fonts_h2=”true” btn_add_icon=”true” btn_link=”url:%23||” el_class=”third_bg_color” css=”.vc_custom_1540891883037{margin-bottom: 0px !important;}”][/vc_cta][/vc_column][/vc_row]