According to Forbes, BlackRock CEO Larry Fink revealed that some unnamed sovereign funds are buying Bitcoin, and that when Bitcoin's price dropped from its peak of $126,000, "they bought even more." Larry Fink stated that these funds are buying in a "gradual" manner and increased their holdings when Bitcoin's price fell to the $80,000 range, aiming to build long-term positions. In recent months, sovereign funds from Abu Dhabi and Luxembourg have disclosed purchases of shares in BlackRock's IBIT Bitcoin ETF.

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