Over the last few months many of the previous critics of Bitcoin e cryptocurrency they generally changed their position, finally taking note of their growing importance. Among those who have done so there is also Morgan Stanley, which also stood out for the virulence of attacks on digital assets.
Whose reversal of views is now witnessed by the decision of invest in Grayscale's Bitcoin Trust. A decision deriving from the desire to diversify one's investment portfolios and which represents the latest sensational about-face by a leader in the traditional banking sector.
Morgan Stanley's investment in cryptocurrencies
Morgan Stanley had previously disclosed ownership of 28289 shares of Grayscale's Bitcoin Trust. When the bank has made the investment public, Macroscape he did not hesitate to say that the bank would soon strengthen its position in the digital assets sector.
A prediction that has actually come true, as notified by the documents filed with the Securities and Exchange Commission of the United States. Who disclosed that Morgan Stanley's Insight Fund, Institutional Fund Inc., Variable Insurance Fund Inc. and Institutional Fund Trust have invested in Grayscale's Trust. The amount of money invested in these operations is equal to 27,6 million dollars and it must be considered that based on the decisions taken, the investment bank cannot exceed the threshold of 25% of its allocation of cryptocurrency resources.
For Morgan Stanley this is yet another step forward
Morgan Stanely's decision to increase investment in Grayscale's Bitcoin Trust is the logical development of a policy already in place. It started with the decision to give the bank's wealthiest customers support in case they decide to invest in Bitcoin.
From that moment on, the bank's position on cryptocurrencies began to change in an ever more profound way, with the practice of acknowledging an ever greater influence of digital assets in everyday life and in the choices of investors. A conversion which, moreover, followed that of other major players in the traditional banking sector. Like those of Goldman Sachs, BNY Mellon and, especially, JPMorgan. The institute headed by Jamie Dymonin fact, not only has it overturned the decidedly contrary positions of its CEO, but it has also invested directly in BTC. So much so as to push some observers to accuse Dymon of behavior bordering on the crime, such as to configure the manipulation. A real nonsense for those who in the past had gone so far as to paint Bitcoin as a criminal instrument.
A decision that sounds completely logical
The decision made by Morgan Stanley seems entirely logical, in light of what is happening. In other words, a situation in which digital assets are increasing their influence in everyday life, both as a payment tool and as an investment asset. So much to push Deloitte to conduct a survey within the financial world, the Global Blockchain Survey, to try to understand what you think about it. A survey that involved 1280 senior financial executives located in 10 locations around the globe, giving extremely surprising results. In fact, 76% of respondents said they believe the end of real money is nearing. Which will be replaced by the virtual one, with a real revolution in financial services. In light of these sensations, the conversion of the major international banking players should therefore not be too surprising.