Morgan Stanley doubles exposure to Bitcoin through Grayscale shares
Major U.S. investment bank Morgan Stanley has more than doubled its shares of Grayscale Bitcoin Trust since April. According to a report from the U.S. Securities and Exchange Commission, or SEC, filed Sept. 27, the Morgan Stanley Europe Opportunity Fund, which invests in established and emerging companies throughout Europe, owned 58,116 shares of the Grayscale […]
Morgan Stanley exec says Bitcoin is the ‘Kenny from South Park’ of money
Morgan Stanley’s Dennis Lynch shared a light-hearted analogy during a discussion at Morningstar’s yearly investment conference today, claiming that Bitcoin’s insatiable ability to defy the odds and rise from both technical and fundamental adversity portrays that of the South Park cartoon character Kenny. The 24-series show has garnered a global audience base for its weird […]
Bitcoin ‘heavy breakout’ fractal suggests BTC price can hit $250K–$350K in 2021
Bitcoin (BTC) has the potential to push its prices to between $250,000 and $350,000 by the end of 2021, a long-standing fractal suggests. First spotted by pseudonymous analyst Bit Harington, the bullish setup drew its inspirations from Bitcoin’s spectacular bull runs every time after halvings, which is when the miner block reward gets cut in half. Analysts […]
Morgan Stanley launches cryptocurrency research team
Morgan Stanley, one of the largest banks in the United States, is setting up a new crypto-focused research division. The Wall Street megabank has appointed Sheena Shah as lead cryptocurrency analyst for its dedicated cryptocurrency research team, Bloomberg reported on Sept. 13. Shah worked as Morgan Stanley’s lead currency strategist covering G10 currencies for more than eight […]
Digital euro could drain 8% of bank deposits, Morgan Stanley says
Analysts at the American multinational investment bank Morgan Stanley have estimated the likely changes in eurozone banks’ deposits should a digital euro be widely adopted. According to the analysts, a European Union central bank digital currency (CBDC) could suck away 8% of customer deposits from eurozone banks, Reuters reports Wednesday. This share may be far […]
Morgan Stanley adds Bitcoin exposure to 12 investment funds
United States investment bank Morgan Stanley has updated the prospectus of several institutional funds to reflect potential exposure to Bitcoin (BTC) through Grayscale and cash-settled futures, highlighting once again the rapid uptake of digital assets by major investment firms. In a March 31 filing with the U.S. Securities and Exchange Commission, or SEC, Morgan Stanley […]
South Korean internet giant Naver reportedly joins Bithumb stake race
Major South Korean internet company Naver has reportedly begun negotiations to acquire a stake in the country’s largest cryptocurrency exchange, Bithumb. Naver has discussed a potential equity stake acquisition with major Bithumb stakeholder Vidente, local publication the Maeil Business Newspaper reported Monday, citing several unnamed sources. Naver is the provider of South Korea’s largest search engine […]