Sovereign Wealth Funds Buy Bitcoin Amid Price Dip
MidChains CEO Basil Al Askari told a podcast that one, and possibly two, sovereign wealth funds have been buying spot Bitcoin and view the recent price dip as an entry point.
On Monday, MidChains CEO Basil Al Askari told a podcast that at least one, and possibly two, sovereign wealth funds have been accumulating spot Bitcoin and treating the recent price dip as an entry level. MidChains is a regulated crypto trading platform based in Abu Dhabi that serves retail and institutional clients.
A sovereign wealth fund is a state-owned investment vehicle typically funded by a country’s reserves. Sovereign funds manage more than $13 trillion in assets globally.
Al Askari said the purchases are being made by patient, large funds that can accumulate over time. He added the buying is not expected to trigger an immediate price surge but could prompt other institutions to begin experimenting with allocations to Bitcoin.
U.S. spot Bitcoin exchange-traded funds have recorded net outflows exceeding $4.1 billion so far this month. At the same time, corporate treasuries and other institutional buyers have been acquiring Bitcoin on price dips; one corporate buyer purchased roughly 3,657 BTC this month.
Recent state-linked activity includes Abu Dhabi’s Mubadala Investment Company buying about $437 million in Bitcoin via shares of a spot Bitcoin trust in February 2025. Bhutan’s Druk Holding and Investments, an early state holder of Bitcoin, has sold portions of its holdings this year.
John D’Agostino, head of institutional strategy at Coinbase, noted demand from family offices and sovereign accounts in the Middle East for purchases at lower prices. He said buyers there were ‘not unhappy at being able to buy it at a discount.’
Al Askari described the current price point as an ‘entry level’ for mega funds, characterizing their approach as patient and strategic. He said their accumulation could lead cautious institutions to reassess exposure to Bitcoin.
The material on GNcrypto is intended solely for informational use and must not be regarded as financial advice. We make every effort to keep the content accurate and current, but we cannot warrant its precision, completeness, or reliability. GNcrypto does not take responsibility for any mistakes, omissions, or financial losses resulting from reliance on this information. Any actions you take based on this content are done at your own risk. Always conduct independent research and seek guidance from a qualified specialist. For further details, please review our Terms, Privacy Policy and Disclaimers.
Articles by this author
