Sovereign funds see Bitcoin discount as entry point: MidChains CEO
Sovereign wealth funds are reportedly accumulating spot Bitcoin, suggesting the current price level is attractive to large institutional buyers. MidChains CEO Basil Al Askari said at least one, and possibly soon two, sovereign wealth funds have been building BTC positions, viewing it as an “entry level” for long-term accumulation. He said the immediate market impact may be limited, but the move sends a strong signal to other institutions watching from the sidelines. The trend highlights a split between weakening retail crypto activity and continued institutional demand. Related comments from Coinbase’s John D’Agostino said family offices, government funds, and sovereign investors in the Middle East are interested in buying the dip. At the same time, US spot Bitcoin ETFs have seen more than $4.1 billion in outflows this month, while corporate treasuries, led by Strategy, continue to add BTC.
