Morgan Stanley to increase Bitcoin (BTC) exposure: buys 58K + GBTC shares more

Morgan Stanley – the global financial services mogul – continues to increase its exposure to Bitcoin through Grayscale’s BTC trust.

  • Morgan Stanley continues to increase its exposure to Bitcoin. As CryptoPotato reported back in August, the financial services company’s Insight Fund held 928,051 shares of Grayscale’s Bitcoin Trust.
  • A recent filing with the United States Securities and Exchange Commission (SEC) revealed that it bought an additional 58,116 shares of GBTC as of July 31st.
  • Data shows that, at the time, the shares were worth around $34.5 per pop, meaning that the firm is more or less breakeven on its latest investment.
  • It’s also worth noting that this comes shortly after Dennis Lynch, the Head of Counterpoint Global at Morgan Stanley’s Investment Management, said that Bitcoin is anti-fragile.
  • The high-ranking official believes that the asset can resist market disorders and prosper further when others fail.

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