Morgan Stanley Eyes Bitcoin Exchange Acquisition After Crypto Rallies 1,500%
Key Bitcoin Takeaways A South Korean media outlet reported that Morgan Stanley plans to acquire Bithumb, a local bitcoin exchange. The news surfaced two days after the American banking giant decided to offer three Bitcoin funds to its rich clients via its traditional investment platform. Bitcoin recently surged above $61,000 on higher institutional demand, up […]
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Korean media has reported that Morgan Stanley is in talks with Bident — who owns a 10% of Bithumb Korea. According to Korean media, U.S.-based multinational investment banking giant Morgan Stanley is rumored to be negotiating the acquisition of a significant share in leading Korean cryptocurrency exchange, Bithumb.The news was reported on March 18 by Aju News, with Bithumb reportedly in discussions with major Bithumb shareholder, Bident — who owns a roughly 10% stake in Bithumb Korea.A March 19 article from leading local search engine Naver states that Morgan Stanley is planning to invest....
Morgan Stanley’s chief global strategist says that “regardless of where the price of bitcoin goes next, cryptocurrencies are here to stay as a serious asset class.” He added that bitcoin is making progress towards replacing the dollar as a medium of exchange. Morgan Stanley Bullish on Bitcoin and Cryptocurrencies Morgan Stanley’s head of emerging markets and chief global strategist, Ruchir Sharma, published a report entitled “Why Crypto Is Coming Out of the Shadows” on the Morgan Stanley website last week. “Despite the jitters natural in a global....