Seeking Alpha
2021-01-20 18:49:16

Blackrock gearing up funds to invest in bitcoin

via CoindeskRegulatory filings today for the Blackrock Global Allocation Fund (MDLOX) and Blackrock Funds V include language about investing in derivatives that draw value from financial instruments "including bitcoin."News that the $7.8T money manager might be directing some funds into the crypto may be one of the sparks behind a quick $1K+ move higher in bitcoin (BTC-USD), which previously had been sucking wind today around the $33.5K level, but is now down just 4% to $34.85K.Blackrock (BLK) late last year notably posted a job opening for a VP of blockchain, and company execs Larry Fink and Rick Rieder also had complimentary things to say about bitcoin.

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