Morgan Stanley approves Bitcoin for sale to clients, MicroStrategy celebrates, mainstream acceptance of cryptocurrency.

From Investing.com

August 3, 2024 4:30 pm:

Morgan Stanley becomes the first major bank to approve Bitcoin for solicited sale to its clients, a significant milestone for the cryptocurrency market. MicroStrategy’s Michael Saylor celebrates the move, highlighting the integration of digital assets into mainstream finance. The firm will allow financial advisors to offer Bitcoin ETFs to select clients, starting August 7.

Under Saylor’s leadership, MicroStrategy has acquired a substantial amount of Bitcoin, with the company now holding 226,500 BTC. Saylor, a strong advocate for Bitcoin, views the cryptocurrency as an inflation hedge and cash alternative. The move by Morgan Stanley to offer Bitcoin ETFs to clients signals mainstream acceptance of digital assets in the financial world.

Morgan Stanley’s decision to enable the solicited sale of Bitcoin represents a pivotal moment in the adoption of digital assets by major financial institutions. The firm’s move to offer Bitcoin ETFs to select clients through its financial advisors demonstrates a growing acceptance of cryptocurrencies in mainstream finance, with August 7 set as the starting date for these offerings.

Read more at Investing.com: MicroStrategy’s Michael Saylor Hails Epic Bitcoin Adoption Milestone By U.Today