Morgan Stanley Increased Its Bitcoin Funds

Morgan Stanley increased its Bitcoin funds. About 1.5 million GBTC have been added to the company's funds.

One of the world's leading banks, Morgan Stanley continues its investments in Bitcoin at full speed. In a recent statement made by Morgan Stanley, it was noted that the leading bank added to its Bitcoin funds in the third quarter of the year through Grayscale's Bitcoin Trust fund. According to filings with the US Securities and Exchange Commission (SEC), Morgan Stanley continued to increase its funds by purchasing Bitcoin on Grayscale in the third quarter of the year. So much so that on September 30, Morgan Stanley's growth fund added approximately 1.5 million Grayscale Bitcoin Trust (GBTC) shares to its portfolio. Similar to Morgan Stanley, Insight Fund bought about 600,000 GBTC shares in the same period. Last October, Morgan Stanley CEO James Gorman made very frank statements about Bitcoin and other cryptocurrency investments and stated that cryptocurrencies are not a temporary trend. On the other hand, according to Gorman, Bitcoin is far from being a decentralized alternative to the state-controlled financial system alone in today's world.