Sovereign Wealth Funds Increase Bitcoin Holdings as Price Falls, Says BlackRock's Larry Fink
At the DealBook Summit held in New York from December 3-4, 2025, BlackRock CEO Larry Fink revealed that sovereign wealth funds (SWFs) have been steadily accumulating bitcoin, even during significant price dips below $90,000.
Fink described these purchases as part of a long-term investment strategy, with funds intended to be held for years rather than for short-term trading gains. SWFs have been incrementally adding bitcoin at price levels around $120,000 and $100,000, with increased buying activity in the $80,000 range.
Bitcoin is increasingly viewed by these funds as a hedge against inflation and sovereign debt, particularly offering protection against currency debasement. Notably, Abu Dhabi's Mubadala Investment Company and Luxembourg's sovereign wealth fund have publicly disclosed investments in spot bitcoin ETFs.
BlackRock's iShares Bitcoin Trust (IBIT), the largest spot bitcoin ETF, has attracted billions of dollars in investments since its debut in early 2024. Fink's remarks highlight a growing institutional interest from sovereign funds in bitcoin, indicating a shift from past caution toward positioning for long-term value.
