One of the world’s largest financial conglomerates could buy more Bitcoin later in the year, data suggests.
According to data analysis from the MacroScope Twitter account, Morgan Stanley could potentially become the largest Bitcoin-owning institution in the industry by 2022.
In 2021, Morgan Stanley bought millions of shares in the Grayscale BTC fund. GBTC was one of the first companies to provide digital asset market exposure for large institutions like Morgan Stanley.
As the analyst suggests, there are significant increases in ownership of a large number of its institutional funds. The increases are mostly in the double digits based on balance sheets, with up to a 26% increase at the high end.
Morgan Stanley’s asset management arm bought millions of shares of Grayscale BTC in 2021.
Morgan just disclosed major increases in ownership across a large number of its institutional funds. These are mostly double-digit percentage increases, up to 26% on the high end.
— MacroScope (@MacroScope17) February 28, 2022
According to data from December 31, Morgan’s growth portfolio reported 4.29 million shares, which represents an increase of 18%. After that, Morgan added even more shares of GBTC, increasing his exposure to the market.
But while already one of the largest institutional holders of Bitcoin, Morgan Stanley will most likely increase its exposure to Bitcoin, according to numerous forms and filings on the SEC website.
According to the listed documents, Morgan Stanley is preparing to buy a large amount of GBTC and other instruments that open up exposure to the cryptocurrency market.
The adoption of Bitcoin by institutions
In 2021, Bitcoin adoption rates hit an all-time high as more institutions started buying the asset that showed record performance over the year. In November, Bitcoin was trading at almost $70,000 after a 70% run.
Despite losing most of its value, digital gold remains one of the most demanded assets among institutional investors who still hold it as a risk exposure asset. At press time, Bitcoin is trading at $43,972 after gaining 15% in one day.
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