BlackRock CEO: Sovereign funds are buying Bitcoin at low prices

BlackRock CEO Larry Fink revealed that some unnamed sovereign funds are buying Bitcoin, and they purchased more as the price of Bitcoin fell from its peak of $126,000.

Larry Fink stated that these funds are making incremental purchases and increased their holdings when the price of Bitcoin dropped to the $80,000 range, aiming to establish long-term positions. He spoke alongside Coinbase CEO Brian Armstrong at the DealBook event, mentioning that the U.S. risks falling behind other countries if it does not accelerate its investments in digitalization and tokenization. Additionally, Larry Fink predicted that cryptocurrency-driven tokenization will see significant growth in the coming years.