Morgan Stanley's Bitcoin Trust Adds Over $15 Million in BTC During Market Dip
Morgan Stanley's Bitcoin Trust (MSBT) has continued its buying spree, adding approximately 232.5 BTC worth $15.05 million to its holdings during a recent market dip.
The transaction took place as Bitcoin traded below the average purchase price of many recent buyers, with cryptoanalyst Axel Adler Jr. noting that the asset is currently trading below the realized price of short-term holders, those who have held their coins for less than 155 days.
This leaves the spot price around 3.8% below the cost basis, creating potential selling pressure from recent holders seeking to exit around break-even.
MSBT's holdings now exceed 6,500 BTC, with a total value of over $426 million at current market prices. The fund launched in April with a 0.14% annual management fee and has attracted significant investor interest since its inception.