{"id":459057,"date":"2021-03-19T11:00:59","date_gmt":"2021-03-19T11:00:59","guid":{"rendered":"https:\/\/uniquehot.com\/?p=459057"},"modified":"2024-06-11T14:14:05","modified_gmt":"2024-06-11T14:14:05","slug":"morgan-stanley-eyes-bitcoin-exchange-acquisition-after-crypto-rallies-1500","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/morgan-stanley-eyes-bitcoin-exchange-acquisition-after-crypto-rallies-1500\/","title":{"rendered":"Morgan Stanley Eyes Bitcoin Exchange Acquisition After Crypto Rallies 1,500%"},"content":{"rendered":"
Bitcoin is not going places. Places are coming to Bitcoin.<\/p>\n
So it appears following a report from the South Korean media outlet Naver that revealed Morgan Stanley’s alleged interest in acquiring a Bitcoin exchange. The exclusive coverage suggested<\/a> that the American investment banking giant plans to invest 300-500 billion Korean (~$255-442 million) into Bithumb based on comments it received from one of the exchange’s representatives.<\/p>\n Morgan Stanley reportedly entered discussions with Bident, an entity that holds a 10.3 percent stake in Bithumb, to acquire stakes in the cryptocurrency exchange. Bident, a KOSDAQ firm, saw its share surge 16.41 percent in a day after the prospects of its potential deal with Morgan Stanley entered the wire.<\/p>\n “The reason Morgan Stanley used Bident is that it understood that Bident has the right to negotiate a preferred sale to acquire Bithumb Holdings,” said another anonymous source familiar with the matter.<\/p><\/blockquote>\n Market analyst Joseph Young revealed in a separate tweet that Morgan Stanley might bid $2 billion for Bithumb, adding that the global investment giant’s deal with South Korea’s biggest cryptocurrency exchange confirms “unprecedented” explosiveness of institutional interest in the Bitcoin space.<\/p>\n Wow.<\/p>\n Morgan Stanley is reportedly bidding for Bithumb, South Korea's top crypto and bitcoin exchange, for $2 billion valuation.<\/p>\n Slowly, then surely.<\/p>\n The explosiveness of institutional interest in this space right now is unprecedented.<\/p>\n — Joseph Young (@iamjosephyoung) March 19, 2021<\/a><\/p><\/blockquote>\n$2bn Bid<\/h2>\n
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