Morgan Stanley is an America based multinational investment bank and a wealth management company. The company is specialized in Private Wealth Management, Prime Brokerage, Sales & Trading, Investment Banking, Research, Investment Management, Wealth Management, Institutional Consulting and earns money from three sources named as investment management, institutional securities, and wealth management. It is headquartered in New York and has its presence in around 42 countries. The company has over 60,000 employees in 1200 offices.
The company organizes wealth to help institutions, governments, individuals, and corporations across the globe to achieve their financial goals. Now, Morgan Stanley plans to invest in cryptocurrency. Counterpoint Global, an investment management division of Morgan Stanley with a worth of $150 billion is getting involved in bitcoin and cryptocurrency. Cryptocurrency is a digital currency that is paid online in the exchange of goods and services. There are many types of cryptocurrencies for instance Bitcoin, Stellar Litecoin, Ripple, Binance Coin, Tron, and many more.
The cryptocurrency is now getting an acceptance into recognized firms by Mastercard and Bank of New York Mellon. The price of bitcoin went high in January after Tesla announced the purchase of bitcoin worth $1.5 billion. In March 2020, the price of bitcoin went low to $4000 and after the announcement, it reached the price of $44,200. Bitcoin and other cryptocurrencies are at the hallmarks of new investment highs as speculation aligns with celebrity endorsements.
