Morgan Stanley explores adding Bitcoin to investment options - Bloomberg

Morgan Stanley's (MS) Counterpoint Global unit is considering adding Bitcoin (BTC-USD) to its list of potential options for investors, Bloomberg reports, citing people familiar with the matter.The $150B investing arm, known for its success in picking growth stocks would still need to get approval from the firm and regulators before moving ahead on the matter.The review could still end with the company deciding to stay away from the cryptocurrency, they said. A Morgan Stanley spokeswoman declined to comment to Bloomberg.But a move by the stalwart Wall Street bank to offer Bitcoin as an potential investment for its clients would give the crypto space old-school validation, opening it up for broader acceptance.The news comes as Bitcoin nears $50K, with recent trading at $48.7K, with much of it growth occurring in the past four months as seen in the chart below.If Morgan Stanley does proceed, it will join more traditional firms like Mastercard