logo
welcome
CoinGape

CoinGape

Is This The Secret Reason Behind BlackRock's Stake Acquisition in Millennium?

CoinGape
Summary
Nutrition label

68% Informative

BlackRock Inc plans to acquire minority stake in $70 billion hedge fund manager Millennium Management LLC.

Millennium Management is the largest holder in BlackRock iShares ( IBIT ) and Fidelity (FBTC) Bitcoin ETFs.

Larry Fink affirmed Bitcoin as a legit asset class like gold and the potential in BTC price to rally higher.

Millennium has backed smaller hedge funds, similar to last year’s partnership talks with Schonfeld Strategic Advisors , which fell apart months later .

VR Score

52

Informative language

45

Neutral language

7

Article tone

formal

Language

English

Language complexity

45

Offensive language

not offensive

Hate speech

not hateful

Attention-grabbing headline

not detected

Known propaganda techniques

not detected

Time-value

short-lived

Affiliate links

no affiliate links