Bitwise Research Analyst Ryan Rasmussen revealed that major institutional investors did not sell even as Bitcoin significantly dropped from $125,000 to $60,000. Rasmussen explained through an institutional crypto adoption report, “Among the 15 major institutions interviewed, none sold during the BTC price decline, and a significant number actually increased their holdings. These institutions tend to perceive Bitcoin not as an asset for betting on short-term price fluctuations, but as a hedge against the risk of fiat currency devaluation, alongside gold. Some sovereign wealth funds are also showing signs of reducing their gold allocation and shifting those funds into Bitcoin.” The survey included pension funds, university endowments, foundations, and sovereign wealth funds.
