Skip to content Skip to sidebar Skip to footer

According to a recent SEC filing, Morgan Stanley continues to accumulate bitcoin through Grayscale’s BTC trust.

The global financial services behemoth, Morgan Stanley, is increasing its Bitcoin exposure through Grayscale’s BTC trust.

Morgan Stanley is continuing to grow its Bitcoin exposure. The financial services firm’s Insight Fund held 928,051 shares of Grayscale’s Bitcoin Trust in August.

According to a recent filing with the US Securities and Exchange Commission (SEC), it purchased an additional 58,116 shares in GBTC on July 31st.

According to data, the shares were valued at about $34.5 per share at the time, indicating that the company had made a profit on its recent investment.

It’s also worth noting that this follows on the heels of Dennis Lynch, the Head of Counterpoint Global at Morgan Stanley’s Investment Management, declaring Bitcoin to be anti-fragile.

According to the high-ranking official, when others fail, the asset can withstand market turmoil and thrive even more.

He also made a parallel between BTC and Kenny, a beloved TV character from the hit program South Park.

I like to say that Bitcoin is kind of like Kenny from South Park, you know, the guy dies every episode, and he’s back again. So owing a little bit of something where things can go right, but knowing that some things can go wrong is not unreasonable when you have a world with such disruption occurring and where these upside scenarios wind up being so large.

Show CommentsClose Comments

Leave a comment

The leader in blockchain news, Cryptowatchlists is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. Cryptowatchlists is an independent online newspaper, which concentrate in cryptocurrencies and blockchain startups.
Our Biggest Stories Delivered to Your Inbox