Bitwise’s head of research, Ryan Rasmussen, said that a sovereign wealth fund they interviewed for its institutional survey was selling its gold and selling its other foreign-currency reserves to finance Bitcoin purchases. Unlike the typical purchase of digital assets as a minor or speculative add-on, this move represents a direct substitution.
Although for confidentiality reasons the specific name of the sovereign wealth fund or the exact volume of the transaction was not disclosed publicly, the statement highlights how the narrative of digital gold is gradually permeating the most conservative levels of macroeconomic reserve management.
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Although for confidentiality reasons the specific name of the sovereign wealth fund or the exact volume of the transaction was not disclosed publicly, the statement highlights how the narrative of digital gold is gradually permeating the most conservative levels of macroeconomic reserve management.
$BTC
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