Is the big BlackRock investing millions in PEPE?

Surely you didn’t miss that memecoins went through the roof again collectively in recent weeks. For a short period of time, which mainly revolved around Pepe Coin (PEPE), memecoins were once again the proverbial talk of the town. Now there are rumors that the largest fund manager in the world, BlackRock, is investing or invested millions in PEPE.

BlackRock and PEPE?

We can hardly believe it and probably it is not true. BlackRock is an investment firm that has a reputation to uphold and will not just gamble on things like memecoins. For BlackRock, there really has to be a good fundamental underpinning before they jump in.

In the case of memecoins, that substantiation is normally completely absent. Some people might disagree, but most people in the industry would.

Anyway, on to the rumor about BlackRock. In fact, Lookonchain tracked down a transaction from an entity called BlackRock Fund, which was withdrawing $1.98 million worth of PEPE from Binance in the early hours of Thursday.

Now the speculation has started and everyone is wondering if this wallet belongs to the great BlackRock. We consider that chance minimal to impossible, because they simply cannot sell it to their investors.

Reputation is everything

In the world of investing, reputation is everything and a party like BlackRock would never risk that for a memecoin like PEPE. Not that they would be in real danger with an investment of a few million, but it still doesn’t come across as very professional if this is actually BlackRock.

After all, many investors will then wonder whether there aren’t more cases where the investment house just puts money in without really thinking. In that respect, it is mainly a nice rumor, of which we can say with a high degree of certainty that it is not true.

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