During the recent price drop from $125,000 to $60,000, zero out of the 15 major institutions surveyed by Bitwise liquidated their holdings, and a significant number actually accumulated more. Ryan Rasmussen, who serves as the head of research at Bitwise, discusses the findings of the company’s inaugural institutional crypto adoption report—which examines pensions, endowments, foundations, and sovereign wealth funds—and explains why these entities view Bitcoin similarly to gold as a protection against currency debasement.
Chapters:
0:00 Ryan Rasmussen on Bitwise’s Institutional Crypto Adoption Report
0:49 Why No Institutions Sold Bitcoin During the Bear Market
1:45 Wells Fargo’s 2–3% Bitcoin Allocation and the Debasement Thesis
3:45 Fidelity, BlackRock, and 2–8% Bitcoin Allocations
4:50 How ETFs Made This Bitcoin Bear Market Shallower
6:24 $2.5B in Weekly ETF Inflows and a New Wave of Capital
7:06 Why Bitwise Believes the Bitcoin Bottom Was $60K
9:36 Why Institutions Hold Both Bitcoin and Gold
11:37 Sovereign Wealth Funds Selling Gold to Buy Bitcoin
15:17 Why Bitcoin Isn’t Correlated to Bonds, Gold, or Stocks
Frequently Asked Questions
Did any major institutions sell Bitcoin when the price dropped?
None of the 15 major institutions interviewed by Bitwise sold their Bitcoin during the decline from $125,000 to $60,000, and many chose to purchase more.
What do institutions use Bitcoin to hedge against?
Institutions treat Bitcoin alongside gold as a hedge against currency debasement.
Which types of institutional investors are covered in the Bitwise report?
The report covers pensions, endowments, foundations, and sovereign wealth funds.
What is the focus of Bitwise’s research report?
The report details institutional crypto adoption, market bottoms, ETF inflows, and asset correlations.
