Morgan Stanley doubles Bitcoin holdings through Grayscale

Morgan Stanley recently doubled its Bitcoin investment by investing in Grayscale stocks. The US investment firm has continuously tried to increase its exposure to BTC. And since April they have doubled their stocks. It is important to note that like most other companies, BTC exposure is indirect as it makes it easier to manage and tax the investment.

Morgan Stanley doubles Bitcoin holdings

In a report filed with the US SEC, Morgan Stanley said it owns 58,116 shares in the Grayscale Bitcoin fund as of July 31. The average purchase price was $ 34.28 and the total cost was $ 2.4 million. Currently, the shares are valued at $ 2 million, which is equal to their BTC exposure. We should also see here that even though they doubled their investments, the BTC exposure is quite small considering how big the company is.

Image source: CoinNews

As of April, the same company held 28,298 shares of Grayscale, which were worth $ 1.3 million at the time. And since then the total stock has increased by 105%. I always believe that something is better than nothing, so it’s good to see Morgan Stanley taking a step forward while increasing their exposure to BTC. Crypto is the future, and understanding this is imperative for investment firms to achieve the most returns.

Growing interest in Bitcoin

While retailers have always been part of the Bitcoin revolution, the same cannot be said of US firms and banks. But over time, that has changed as companies start taking an interest in Bitcoin investing. In 2020, when the US made crypto laws more transparent and legal, US companies and investment firms, among others, jumped on the bandwagon. At the end of the year, almost all major investment firms had some crypto exposure.

And when 2021 happened and adoption of Tesla’s BTC investment skyrocketed, even banks started looking into crypto. They started offering investment and custody services to make the most of the space.

What do you think as Morgan Stanley doubled its Bitcoin holdings since April? And do you think adoption rates are rising even though the markets are falling? Let us know in the comments below. Even if you found our content informative, please like it and share it with your friends.

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