Hedge fund Millennium Management invested $1.94 billion in spot bitcoin ETFs in the first quarter of 2024. This represents 3% of the fund’s $64 billion in total assets under management (AUM).
The purchases of bitcoin-ETFs Millennium Management and Schonfeld (2% of AUM) were noted by analysts at QCP Capital in their daily review.
On the back of this news, as well as U.S. inflation data released on May 15, analysts are predicting the bitcoin price to rise to $74,000.
“The coincidence of a number of factors: significant sovereign and institutional adoption, lower inflation and the upcoming U.S. election could be the catalyst for a new round of bitcoin growth. Could this be the revival of a bull market?”, QCP Capital said in a report. Read the original article – https://forklog.com/news/millennium-management-priobrela-spotovye-bitkoin-etf-na-1-94-mlrd.
