BlackRock CEO says sovereign funds are buying BTC on dips

BlackRock CEO Larry Fink stated at a DealBook event that unnamed sovereign wealth funds are purchasing Bitcoin amid the cryptocurrency's recent price decline, Forbes reported. Fink added that multiple sovereign wealth funds are waiting to buy Bitcoin and have started to gradually accumulate the asset after it saw a significant correction from its new high of $126,000. CoinNess previously reported that Abu Dhabi's sovereign wealth fund, Mubadala, is an investor in BlackRock's IBIT.