{"id":53737,"date":"2021-01-10T09:03:06","date_gmt":"2021-01-10T09:03:06","guid":{"rendered":"https:\/\/www.cryptocabaret.com\/?p=53737"},"modified":"2021-01-10T09:03:06","modified_gmt":"2021-01-10T09:03:06","slug":"morgan-stanley-massively-increases-bitcoin-exposure-through-microstrategy","status":"publish","type":"post","link":"https:\/\/www.cryptocabaret.com\/?p=53737","title":{"rendered":"Morgan Stanley Massively Increases Bitcoin Exposure Through Microstrategy"},"content":{"rendered":"

\"Morgan<\/p>\n

Global investment bank Morgan Stanley has increased its bitcoin exposure manyfold by investing in Microstrategy, the Nasdaq-listed company which currently holds about 70,470 bitcoins. Morgan Stanley now has a 10.9% stake in Microstrategy.<\/strong><\/p>\n

\u2018Even Banks Want Bitcoin\u2019<\/h2>\n

Global financial services firm Morgan Stanley has significantly increased its exposure to bitcoin, the company\u2019s filing with the U.S. Securities and Exchange Commission (SEC) on Friday shows.<\/p>\n

Morgan Stanley has declared that it now owns 792,627 shares of Microstrategy. The Nasdaq-listed company has been stacking bitcoin over the past six months and now holds about 70,470 bitcoins<\/a> in its treasury. At the current BTC<\/a> price, Microstrategy\u2019s bitcoin stash is worth nearly $2.9 billion. Morgan Stanley\u2019s investment represents a 10.9% stake in Microstrategy whose share price recently soared to $531.64.<\/p>\n

According to analyst Kevin Rooke<\/a>, Morgan Stanley held 142,908 shares of Microstrategy in the third quarter. Commenting on the investment bank\u2019s latest investment, he tweeted Friday:<\/p>\n

\n

That\u2019s actually a 455% increase, up from 142,908 shares in Q3 \u2026 Even the banks want bitcoin.<\/p>\n<\/blockquote>\n

\"\"<\/p>\n

<\/ins> <\/ins> <\/p>\n

Microstrategy was the first major public company to make bitcoin its primary reserve asset. Its pro-bitcoin CEO Michael Saylor said in December that his company now had \u201can aggregate of 70,470 bitcoins purchased for $1.125 billion at an average price of $15,964 per bitcoin.\u201d Microstrategy\u2019s bold move into BTC<\/a> had caused Citigroup to downgrade<\/a> its stock to a sell rating. However, the market continued to favor the company as its share price has surged almost 86% since the downgrade and it is up 25% year-to-date.<\/p>\n

Since Microstrategy\u2019s major bitcoin buys, a number of other institutional investors have revealed that they have also invested in BTC<\/a> or have plans to do so in the near future. They include Blackrock, Massmutual, Ruffer, and Skybridge. Meanwhile, bitcoin\u2019s price has repeatedly hit record highs. JPMorgan<\/a> has predicted that the price of the cryptocurrency could reach $146,000 while Guggenheim Investments<\/a> sees bitcoin\u2019s value at $400,000.<\/p>\n

What do you think about Morgan Stanley\u2019s bitcoin strategy? Let us know in the comments section below.<\/strong><\/em><\/p>\n

Powered by WPeMatico<\/a><\/small><\/p>\n","protected":false},"excerpt":{"rendered":"

Global investment bank Morgan Stanley has increased its bitcoin exposure manyfold by investing in Microstrategy, the Nasdaq-listed company which currently holds about 70,470 bitcoins. Morgan Stanley now has a 10.9% stake in Microstrategy. \u2018Even Banks Want Bitcoin\u2019 Global financial services firm Morgan Stanley has significantly increased its exposure to bitcoin, the company\u2019s filing with the […]<\/p>\n","protected":false},"author":2,"featured_media":53738,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[309],"tags":[],"class_list":["post-53737","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/posts\/53737","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=53737"}],"version-history":[{"count":0,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/posts\/53737\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/media\/53738"}],"wp:attachment":[{"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=53737"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=53737"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=53737"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}