Strategy CEO Phong Le suggested that a potential asset allocation by Morgan Stanley to Bitcoin could trigger a massive buying wave in the cryptocurrency market. In a post on social media, Le noted that Morgan Stanley’s asset management arm manages a portfolio of approximately $8 trillion.
According to Le, if a 2% allocation—the midpoint of the 0% to 4% allocation range the company proposes for Bitcoin—is chosen, this could translate to approximately $160 billion in new demand for the market. This magnitude is said to be roughly three times the size of BlackRock’s IBIT fund, currently one of the largest spot $BTC ETFs on the market.
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