Some sovereign wealth funds are buying Bitcoin, and as Bitcoin's price pulled back from the $126,000 peak, "they increased their buying efforts."
He stated that these funds are "gradually" buying in and ramped up their positions when the price dropped to around $80,000, aiming to build long-term holdings.
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According to Forbes, BlackRock's CEO revealed:
Some sovereign wealth funds are buying Bitcoin, and as Bitcoin's price pulled back from the $126,000 peak, "they increased their buying efforts."
He stated that these funds are "gradually" buying in and ramped up their positions when the price dropped to around $80,000, aiming to build long-term holdings.