Bitcoin’s Quiet Coup: Wealth Funds Build Up Holdings
Sovereign wealth funds are exploring Bitcoin investments but are hesitant to make significant commitments until the U.S. establishes clear regulations for digital assets. Anthony Scaramucci emphasized that substantial purchases will depend on legislative guidance regarding stablecoins, bank custody of tokens, and pilot programs for tokenized stocks. Currently, most sovereign funds, including Norway's and China's, maintain minimal Bitcoin holdings. If regulations allow banks to custody digital assets and facilitate trading of tokenized securities, larger investments could follow, potentially leading to significant market price fluctuations. Analysts, including ARK Invest's Cathie Wood, suggest that institutional interest may drive Bitcoin prices to new heights by 2030. Meanwhile, Europe and parts of Asia are advancing pilot programs for tokenized assets, which may prompt earlier engagement from sovereign funds.
