Morgan Stanley – the global financial services magnate – continues to increase his exposure to Bitcoin with the BTC confidence of Grayscale.
- Morgan Stanley continues to increase his exposure to Bitcoin. as Potato encryption It was reported in August that the financial services firm’s Insight fund owns 928,051 shares of Grayscale’s Bitcoin Trust.
- A recent filing with the US Securities and Exchange Commission (SEC) revealed that it had purchased an additional 58,116 shares of GBTC as of July 31.
- The data shows that at the time, the stock was worth about $34.5 per share, which means the company has somewhat of a breakeven point on its last investment.
- It’s also worth noting that this comes shortly after Dennis Lynch, Counterpoint Global Head of Investment Management at Morgan Stanley, said Bitcoin is antifragile.
- The senior official believes that the asset can withstand market turmoil and thrive more when others fail.
- He even compared BTC to a famous TV personality from the popular South Park show, Kenny.
I like to say Bitcoin is kind of like Kenny from South Park, you know, the guy dies in every episode and comes back again. Having a few things that can go right, but also knowing that there are some things that can go wrong, it’s not unreasonable when you have a world with such turmoil, and where these upside scenarios end up being pretty big.
Featured image courtesy of Forbes magazine
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