๐จ Sovereign Wealth Funds Are Selling Gold to Buy Bitcoin
Bitwise Head of Research Ryan Rasmussen says major institutions are increasingly holding Bitcoin alongside gold as a hedge against currency debasement.
๐น Bitwiseโs first institutional survey found that none of the 15 major institutions interviewed sold their crypto holdings as Bitcoin fell from around $125K to $60K.
๐น Several institutions actually bought more during the decline.
๐น One sovereign wealth fund revealed it was funding its crypto allocation by selling foreign exchange and gold reserves.
๐น Rasmussen believes $60K was Bitcoinโs bottom.
#Bitcoin #BTC #Crypto #Gold
Bitwise Head of Research Ryan Rasmussen says major institutions are increasingly holding Bitcoin alongside gold as a hedge against currency debasement.
๐น Bitwiseโs first institutional survey found that none of the 15 major institutions interviewed sold their crypto holdings as Bitcoin fell from around $125K to $60K.
๐น Several institutions actually bought more during the decline.
๐น One sovereign wealth fund revealed it was funding its crypto allocation by selling foreign exchange and gold reserves.
๐น Rasmussen believes $60K was Bitcoinโs bottom.
#Bitcoin #BTC #Crypto #Gold
