Bitcoin Price (BTC) News: SWFs Bought the Dip, According to Larry Fink
BlackRock CEO Larry Fink stated that sovereign wealth funds were buying Bitcoin during recent price dips to establish long-term holdings.Summary
BlackRock CEO Larry Fink revealed at the New York Times DealBook Summit that sovereign wealth funds (SWFs) were actively purchasing Bitcoin as its price plunged, including buying increments around $120,000, $100,000, and in the $80,000 range. Fink emphasized that these state actors are establishing long-term positions intended to be held for years, viewing it as a purpose-driven investment rather than a short trade. This institutional interest, particularly from SWFs, signals growing confidence in Bitcoin's long-term resilience despite volatility. Fink, who has become a prominent advocate, also reiterated his belief that Bitcoin serves as a crucial hedge against growing government debt and inflation, framing it as protection against currency debasement.
(Source：CoinDesk)