A week after Tesla announced its $1.5-billion investment in Bitcoin, the digital asset keeps making inroads into traditional finance. The latest is news that an investment unit of Morgan Stanley is considering whether to bet on Bitcoin. On Thursday, BNY Mellon said it has formed a team that’s developing a custody and administration platform for traditional and digital assets. The combination of luminaries, such as Tesla’s Elon Musk, and powerhouse banks is adding ammunition to Bitcoin’s meteoric gains. AdvertisementThere are hints that more Wall Street heavyweights could dip into the crypto market.

Source: Los Angeles Times February 15, 2021 00:45 UTC