While some big investors cash out, others double down: Crypto Daybook Americas
Despite a recent crypto market drawdown, some investors like Michael Saylor and Abu Dhabi funds are increasing their positions, while others, such as Peter Thiel and Harvard Management Company, are reducing theirs.Summary
The crypto market is experiencing a shift in institutional positioning following a more than 50% decline in Bitcoin from its October peak. While some large investors are cashing out, others are doubling down on their crypto holdings. Metaplanet reported a significant net loss, and Harvard Management Company trimmed its Bitcoin ETF exposure. Conversely, Michael Saylor’s Strategy continues to accumulate Bitcoin, and funds from Abu Dhabi have collectively invested over $1 billion in BlackRock’s Bitcoin ETF. BitMine Immersion Technologies also increased its Ether holdings substantially. BlackRock is progressing with plans for a U.S.-listed yield-generating Ether product. Despite these developments, analysts suggest it’s premature to call an end to the recent market downturn, especially with concerns about TradFi indexes and rising AI-related capital expenditures.
(Source：CoinDesk)