PANews reported on December 4th, citing Forbes, that BlackRock CEO Larry Fink stated that some sovereign wealth funds are buying Bitcoin during the recent price drop. Many sovereign wealth funds were initially on the sidelines, gradually accumulating Bitcoin as its price fell from its peak of $126,000. Fink indicated that these funds are buying incrementally, adding to their holdings when the price drops to the $80,000 range, aiming to build long-term positions. Fink also stated that the US risks falling behind other countries if it doesn't accelerate its investment in digitalization and tokenization. Furthermore, Fink predicts that cryptocurrency-driven tokenization will experience "huge growth" in the coming years.
BlackRock CEO: Some sovereign wealth funds bought Bitcoin during the recent crypto market downturn.
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