MicroStrategy’s Michael Saylor Celebrates Major Bitcoin Adoption Milestone

In a significant development for the cryptocurrency sector, Morgan Stanley has become the first major bank to authorize the solicited sale of Bitcoin to its clients.

This groundbreaking decision by one of the world’s leading wealth management firms has received enthusiastic support from various figures in the crypto community, including Michael Saylor, the chairman and co-founder of MicroStrategy.

Morgan Stanley’s approval for the solicited sale of Bitcoin represents a crucial step in the assimilation of digital assets into traditional finance, a fact that Saylor emphasized as important.

In a recent post on social media, Saylor stated, “Morgan Stanley just became the first major bank to approve Bitcoin for solicited sale to their clients.”

Under Saylor’s guidance, MicroStrategy has accumulated a substantial amount of Bitcoin, positioning itself as one of the largest corporate holders of the cryptocurrency. Earlier this year, the company purchased an additional 169 BTC for $11.4 million, bringing its total holdings to 226,500 BTC.

As a staunch advocate for Bitcoin, Saylor began investing in it in 2020, viewing it as a hedge against inflation and a viable cash alternative.

### Morgan Stanley’s Key Bitcoin Initiative

On a recent Friday, Morgan Stanley informed its financial advisors that they will soon be able to offer Bitcoin exchange-traded funds (ETFs) to select clients, marking a first for major Wall Street banks.

This initiative suggests that the firm’s approximately 15,000 financial advisors will be able to recommend eligible clients purchase shares of two exchange-traded Bitcoin funds, specifically BlackRock’s iShares Bitcoin Trust and Fidelity’s Wise Origin Bitcoin Fund, starting on August 7.

Morgan Stanley’s decision is yet another indicator of Bitcoin’s growing acceptance within mainstream finance. Earlier this year, the U.S. Securities and Exchange Commission made headlines by approving applications for 11 spot Bitcoin ETFs, representing a significant milestone for the cryptocurrency industry.