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Institutions bought more bitcoin during the drop, Bitwise head says

Bitwise’s Ryan Rasmussen said none of the 15 major institutions interviewed sold as bitcoin slid from $125,000 to $60,000.

Reported · Written up by our desk · Market Structure

Bitcoin fell from $125,000 to $60,000, yet none of the 15 major institutions Bitwise interviewed sold during the decline, and many instead bought more, according to Ryan Rasmussen, Bitwise’s head of research, speaking on Bitcoin Magazine.

Rasmussen attributed the interest to how some institutions, including pensions, endowments, foundations, and sovereign wealth funds, view bitcoin as a hedge alongside gold, framing it around concerns about currency debasement.

He said Bitwise’s first institutional crypto adoption report covers these groups and their approach to holding bitcoin as part of a broader hedging mindset.

Latest closeGold $4,147.50 ▼4.0%|Bitcoin $83,516.32 ▲0.0%

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