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Interesting information came out in a Forbes article. BlackRock CEO Larry Fink revealed that multiple anonymous sovereign funds are steadily accumulating Bitcoin.
According to Larry Fink, these funds are not just buying passively but are building their positions quite strategically. When Bitcoin's price dropped from its peak of $126k, they executed additional purchases. Even when the price fell to the $80k range, they continued to expand their holdings, indicating a long-term strategic approach.
In fact, over the past few months, it has been publicly disclosed that sovereign funds from Abu Dhabi and Luxembourg purchased shares of BlackRock's iBit Bitcoin ETF. This likely serves as an example of the strategic accumulation Larry Fink described.
Currently, Bitcoin is trading around $77,600, but it is worth watching how these institutional investors' phased buying will influence the market. From Larry Fink's comments, it’s clear that large funds are beginning to seriously hold Bitcoin for the long term.