At least one sovereign wealth fund, and possibly two, have been quietly accumulating spot Bitcoin at current price levels, according to Basil Al Askari, CEO of Abu Dhabi-based regulated crypt
At least one sovereign wealth fund, and possibly two, have been quietly accumulating spot Bitcoin at current price levels, according to Basil Al Askari, CEO of Abu Dhabi-based regulated crypto trading platform MidChains. Al Askari made the disclosure on Cointelegraph’s Chain Reaction podcast on Monday, framing the institutional moves as a deliberate strategy to exploit a perceived discount.
Sovereign wealth funds are state-owned investment vehicles capitalised by national reserves, meaning their Bitcoin purchases represent government-level conviction rather than private speculation. These funds collectively control more than $13 trillion in assets globally.
