Sovereign Funds Buy More BTC During Market Downturns, Says BlackRock CEO

During the 'DealBook Summit' event hosted by The New York Times on December 3, Larry Fink, CEO of major U.S. financial firm BlackRock, disclosed that several sovereign wealth funds have been acquiring the cryptocurrency Bitcoin (BTC).

He detailed that these funds made additional purchases when Bitcoin's price fell to $120,000 and $100,000. Furthermore, they increased their holdings even more when the price dropped to the $80,000 range.

Mr. Fink also mentioned that these sovereign funds have been investing with a long-term perspective spanning several years. He emphasized that these purchases are not mere trades but are purpose-driven acquisitions...