Coinbase CIO confident Middle Eastern states hold more BTC than reported

Eric Peters, Chief Investment Officer of Coinbase Asset Management, said on the Bankless podcast that he is confident Middle Eastern countries have invested more in Bitcoin than is publicly known. He added that while institutions are entering the Bitcoin market, most are hesitant to buy at current prices, leading them to prefer investing in stocks. Peters explained that these hesitant institutions are more likely to invest in crypto-related infrastructure before making direct investments in BTC.