Crypto

Abu Dhabi Sovereign Wealth Funds Keep Big Bitcoin Positions

Bitcoin Magazine Abu Dhabi Sovereign Wealth Funds Keep Big Bitcoin Positions Bitcoin is the most important asset in two of Abu Dhabi sovereign wealth funds, according to regulatory filings. Abu Dhabi’s Mubadala Investment Company disclosed Friday that it held a $490 million stake in BlackRock’s i

Source: Bitcoin Magazine

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DW NOTE

Two Abu Dhabi sovereign wealth funds hold a combined $764 million in BlackRock's Bitcoin ETF — the largest single position in one portfolio, second-largest in the other. When Gulf states locked out of normal shipping routes for 122 days start treating Bitcoin as a core reserve asset, that's not portfolio diversification, that's hedging against the infrastructure their own oil wealth depends on.

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Abu Dhabi Sovereign Wealth Funds Keep Big Bitcoin Positions

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