Morgan Stanley plans to invest $ 150 billion in Bitcoin

It appears that the high financial value of the cryptocurrency “Bitcoin” has started to attract more investors, as Morgan Stanley is considering investing in the digital currency Bitcoin for about $ 150 billion, according to a report by Bloomberg.

Bloomberg cited people familiar with the matter that Counterpoint Global, one of Morgan Stanley’s investment arms, is currently studying the advisability of investing in Bitcoin and scenarios for relying on it, especially after the price of this currency has risen. It has more than doubled since the beginning of the fourth quarter of last year.

Bitcoin was able to hit record highs by approaching $ 50,000, especially after Tesla announced a $ 1.5 billion investment in it.

If Morgan Stanley wants to invest in Bitcoin, this requires approval from regulators and investors.

And investing in Bitcoin will not be new to Morgan Stanley, especially since it has about 11 percent of the company “MicroStrategic”, which has investments in this currency of about two billion dollars.

Morgan Stanley analysts believe that the future of Bitcoin holds surprises in its ability to compete with the dollar.

Counterpoint Global manages 19 mutual funds, five of which achieved 100 percent returns in the past year.

On Friday, Canadian authorities authorized the launch of the world’s first Bitcoin-traded fund, giving investors greater access to this virtual process.

Despite the suspicion of using Bitcoin in illegal operations, the cryptocurrency is achieving significant growth thanks to the investments of major companies.

In October, electronic payments giant PayPal launched a cryptocurrency purchase and payment service, while Square announced that it had invested $ 50 million in bitcoin.

Bitcoin launched in 2009 and its value was not very great at first, but this week its price topped $ 45,000, and Canadian and American companies have tried unsuccessfully in recent years to launch Bitcoin-like funds.