Sovereign Wealth Funds Reportedly Rotate Gold Into Bitcoin

Sovereign wealth funds are reportedly beginning to fund Bitcoin allocations by reducing exposure to traditional reserves such as gold and foreign exchange.
Bitwise Head of Research Ryan Rasmussen says major institutions increasingly view $BTC alongside gold as a hedge against currency debasement.
Bitwise's institutional survey found that none of the 15 major institutions interviewed sold their crypto during Bitcoin's decline from roughly $125,000 to $60,000, while several increased their positions.
One sovereign wealth fund reportedly told Bitwise that it funded its crypto allocation by selling foreign exchange and gold reserves.