Source: At least one sovereign wealth fund is reportedly dollar-cost averaging into Bitcoin spot markets at current levels

BlockBeats News, June 30th, MidChains CEO Basil Al Askari stated that "at least one" sovereign wealth fund is increasing its holdings of spot Bitcoin during the price decline, and another sovereign wealth fund may start buying in the coming weeks. He indicated that this sends a very clear signal to other institutions that may still be on the sidelines and view these large funds as leaders in this asset class.

MidChains is an Abu Dhabi-regulated crypto exchange platform backed by the sovereign wealth fund Mubadala. Before founding MidChains, Askari worked in the private equity team of Abu Dhabi's sovereign wealth fund Mubadala Capital, and held positions in the GE Capital Commercial Finance team in the United States, the United Kingdom, and the UAE, bringing extensive financial investment and operational experience.