Basil Al Askari, CEO of Abu Dhabi-based cryptocurrency exchange MidChains, has disclosed that at least one—and possibly two—sovereign wealth funds have begun accumulating spot Bitcoin. Speaking on a podcast, Al Askari explained that these funds view the current price level as an attractive entry point for long-term investment strategies.
The accumulation is being carried out through a gradual buying strategy designed to minimize sudden price impacts on the market. Al Askari noted that while sharp short-term price increases are not expected, the involvement of sovereign wealth funds represents a powerful confidence signal. “Such large institutional entries could encourage other financial institutions and institutional investors to follow suit,” he stated.
Industry observers see this as a new phase in institutional adoption. In recent years, institutional demand for spot Bitcoin has risen, with long-term funds increasingly viewing digital assets as portfolio diversification tools. If sovereign funds continue their steady purchases, analysts believe this will not only support market liquidity but also pave the way for broader institutional strategies. However, experts caution that a long-term investment horizon—rather than reactive moves to short-term price swings—will remain the decisive factor.
The remarks highlight shifting dynamics in traditional finance, where state-backed investors may now be quietly building Bitcoin positions, reinforcing the cryptocurrency’s growing acceptance in mainstream portfolios.
