Morgan Stanley invests in Bitcoin fund and joins before acquisition
Negotiations with Bident, the largest shareholder of’Bithumb’
Negotiations with NXC are highly likely to fail
The largest shareholder of Bithumb, the largest cryptocurrency exchange in KoreaIs on the rise. It is interpreted that the news that it has jumped into the acquisition of Bithumb is driving the share price following the announcement of investment bank Morgan Stanley’s first investment plan for’Bitcoin Fund’ on Wall Street.
As of 9:21 am on the 19th, Bident is trading at 15,300 won on the KOSDAQ market, up 16.41% (2,200 won) from the previous trading day.
Bident’s strength from the beginning of the market is due to reports from some media that Morgan Stanley is negotiating to acquire Bithumb shares through Bident. Bident holds a 10.3% stake in Bithumb Korea, Bithumb’s operator, and Bithumb Holdings, the largest shareholder of Bithumb Korea (34.24%), making it the single largest shareholder in Bithumb.
Meanwhile, Bithumb has been negotiating with Nexon holding company NXC, but it is known that its position as a preferred negotiator has actually weakened as Morgan Stanley and other candidates have expressed their intention to take over.
Morgan Stanley is showing active will before the acquisition of Bithumb shares following the launch of the Bitcoin fund. According to major foreign media such as CNBC on the 17th (local time), Morgan Stanley is the first large investment bank to launch three Bitcoin funds. It is reported that Morgan Stanley Investment Management is also considering whether to invest in Bitcoin.
On the other hand, if you look at the bitcoin transaction amount of Bithumb that Bident invested in, it was 1.3 trillion won in January last year, but in January this year, it increased to 12 trillion 8,06.9 billion won, an increase of about 9 times (880%) in one year. If a 0.04% commission is calculated based on the transaction amount in January of this year, it is estimated that it generated about 5.1 billion won in profit for one month.
/ Reporter Park Si-jin [email protected]
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