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Counterpoint Global, a $150 billion investment unit under Morgan Stanley (MS), could be jumping into Bitcoin (BITCOMP).

What Happened

Counterpoint is considering making bets on Bitcoin, as pressure mounts on investment firms to provide exposure as investors watch the cryptocurrency skyrocket, Bloomberg has reported, citing anonymous sources. The move would require regulatory approval, and Counterpoint still could decide to ultimately not make the move, Bloomberg noted.

Why It Matters

This would mark another high-profile move into the cryptocurrency, which is seeing a run that shows no signs of stopping. Tesla Inc (TSLA) this week said it invested $1.5 billion into Bitcoin and that it will soon start accepting the cryptocurrency as payment. Similarly, firms like Bank of New York Mellon Corp (BK) and Mastercard Inc (MA) have shown interest in the cryptocurrency. 

The Grayscale Bitcoin Trust (GBTC), a popular investment vehicle to gain exposure to Bitcoin, is up 39.42% year-to-date. Things have changed quite a bit since 2017, when, amid Bitcoin's earlier historic rise, a Morgan Stanley analyst said the real value of the Bitcoin was zero. At that time, Bitcoin was trading at about $16,000, an all-time high for that period. Bitcoin is now trading at about $47,000, near its latest historic highs.