Bitwise Report: Major Institutions Increased Bitcoin Holdings During Price Decline

A report by Bitwise research head Ryan Rasmussen reveals that 15 large institutions, including pension funds and sovereign wealth funds, did not sell their Bitcoin holdings despite a price drop from $125,000 to $60,000; some even increased their positions. These institutions view Bitcoin as a hedge against fiat currency devaluation similar to gold. Allocations typically range from 2% to 8%, with Wells Fargo holding approximately 2% to 3%. Some sovereign wealth funds are reportedly shifting capital from gold into Bitcoin.