BlackRock CEO: Sovereign wealth funds are buying Bitcoin at low prices

According to Odaily Planet Daily, BlackRock CEO Larry Fink revealed that some unnamed sovereign wealth funds are buying Bitcoin, and that "they bought even more" as the price fell from its peak of $126,000. Fink stated that these funds are buying "gradually" and increasing their holdings as the price dropped to the $80,000 range, aiming to build long-term positions.

Speaking alongside Coinbase CEO Brian Armstrong at the DealBook event, Larry Fink stated that the US risks falling behind other countries if it doesn't accelerate its investment in digitalization and tokenization. Furthermore, Fink predicted that cryptocurrency-driven tokenization will experience "huge growth" in the coming years.