SILENCE, THEY ARE BUYING! 🤫
Sovereign Funds "Accumulate" Bitcoin Amidst the Fall
The CEO of
#BlackRock ,
#LarryFink , has focused on the growing legitimacy of
#bitcoin as a long-term investment asset by revealing that sovereign wealth funds have been actively buying the cryptocurrency during its recent price correction.
Buy the Dip: Fink confirmed at the New York Times DealBook summit that he has seen "several sovereign funds" increase their positions in Bitcoin taking advantage of the price falling below the $90,000 level. He mentioned that these players bought more when the price was around $80,000.
"Legitimate" and Long-Term Investors: The executive emphasized that these moves come from "legitimate and long-term" investors.
Sovereign "Holder" (HODL) Strategy: The strategy of these sovereign funds is not speculative. Fink noted: "They are establishing a longer position and then holding it for years... It’s not a trade, they hold it with a purpose".
Not New, But the Tactic: While the investment of state actors (like Abu Dhabi's Mubadala Investment Company and the Luxembourg fund) in spot Bitcoin ETFs was already known, the key news is that these funds are increasing their holdings precisely during market downturns, indicating a strong conviction in Bitcoin's future potential ($100,000 - $120,000).
#BTC $BTC