THELOGICALINDIAN - Morgan Stanley could become the latest banking academy to bet on Bitcoin in the advancing balderdash run
Counterpoint Global, the $150 billion addition of Morgan Stanley Advance Management (MSIM), is reportedly looking into authoritative a Bitcoin investment.
Morgan Stanley Eyeing Bitcoin
Morgan Stanley could be affective into the cryptoassets space. According to a Bloomberg report appear today, the advance bank’s Counterpoint Global arm is because advance in Bitcoin.
The accomplished few months accept apparent huge leaps advanced in accumulated and institutional acceptance of Bitcoin and added cryptocurrencies.
MicroStrategy’s $1 billion investment in Bitcoin opened the floodgates for abounding added high-profile acceptance incidents, including a $1.5 billion advance from Tesla and Bitcoin affiliation by $2 abundance advance behemothic BNY Mellon.
Morgan Stanley has been binding afterpiece to the booming crypto markets, investing $500 actor in MicroStrategy afterwards the business intelligence close adapted its absolute banknote antithesis to Bitcoin. MicroStrategy architect Michael Saylor angry his absorption to Bitcoin in 2020, and helped kickstart a billow of institutional advance into the asset.
The advance coffer boasts $750 billion in assets beneath management, and charcoal one of the added apparent names on Wall Street. An advance into Bitcoin would be addition bullish arresting for analysts gluttonous acceptance of able fundamentals basal Bitcoin.
Disclosure: The columnist captivated Bitcoin at the time of writing.
Of the S&P 500's 25 better stocks, 11 are endemic by companies alive with crypto or blockchain.
Several of the better S&P 500 companies are leveraging cryptocurrency and blockchain technology.
Big Tech & Payment Companies Lead the Way
Several Big Tech companies action action blockchain services. Microsoft (#2 by bazaar cap) offers blockchain-as-a-service through its Azure marketplace. Amazon (#3) offers a commensurable account through AWS and is additionally exploring crypto payments.
Additionally, Facebook (#4) is abetment the Diem Association and its stablecoin, while Google (#5) is active accessible blockchain nodes through its Google Cloud division.
Tesla (#6) has aloof invested $1.5 billion in Bitcoin and is because abacus cryptocurrency as a agency of payment.
Lesser tech companies like AT&T (#28), Cisco (#29), and Oracle (#59) action action blockchain services. Intel (#20) and IBM (#66) are complex in the Hyperledger blockchain project, while Salesforce (#26) has congenital its own blockchain on Hyperledger Sawtooth.
Financial Institutions and Payment Processors
Leading acquittal companies are heavily complex in cryptocurrency. Visa (#12) is alive with several accomplice companies to abutment crypto acquittal cards. PayPal (#14) has accurate crypto trading back October and is planning to aggrandize its offerings. Mastercard (#17) has afresh appear affairs to abutment crypto conversions.
Banks and banking institutions are axis to crypto as well. JPMorgan (#10) offers its JPMCoin stablecoin and Liink blockchain; Wells Fargo (#53) additionally offers its own stablecoins. BlackRock (#71) is authoritative affairs to acquaint crypto funds. Goldman Sachs (#69) and BNY Mellon (#198) are planning crypto aegis services.
Meanwhile, CME Group (#112) offers crypto futures trading, while ICE (#118) offers crypto futures trading through its Bakkt unit. Related to this, the coffee alternation Starbucks (#58) is alive carefully with ICE and Bakkt to acquire Bitcoin payments.
Other Noteworthy Stocks
Numerous added crypto-related companies action stocks but are not included on the S&P 500. Square, for example, handles Bitcoin and owns $200 actor of BTC. Alibaba and SAP both action blockchain-as-a service, Samsung develops a adaptable crypto wallet, and Cloudflare operates an Ethereum gateway.
Future accomplishments could additionally actualize added stocks. Crypto barter Coinbase is planning to go accessible and could allegedly rank amid the 500 better stocks, alike if it is not included in the S&P 500.
Twitter (#131 on the S&P 500) is reportedly considering a Bitcoin investment, but has not yet fabricated a purchase.
A cardinal of base crypto mining companies are additionally about traded, including Riot Blockchain, Marathon Patent Group, Canaan, and Hive Blockchain Technologies. However, all of these stocks are far too baby for admittance in the S&P 500.
Over 22 Stocks Have Crypto Ties
Based on this data, at atomic 22 companies in the S&P 500 can be advised companies complex in crypto or blockchain. At atomic 11 of those stocks are aural the S&P 500’s top 25 stocks.
Looking above the S&P 500, at atomic 31 about traded stocks can be advised crypto-related investments.
This is decidedly aces of application as some commentators see banal bazaar capitalizations as a point of allegory for the crypto market. With a bazaar cap of $890 billion, Bitcoin itself is currently commensurable to Tesla, a top ten stock.
