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BlackRock CEO: Sovereign Funds Bought Bitcoin During Recent Decline

Sovereign wealth funds bought Bitcoin during the recent price decline, BlackRock CEO Larry Fink said on Dec. 4. Fink said the funds purchased "gradually" as Bitcoin dropped from its $126,000 peak, with increased buying when prices fell to the $80,000 range to build long-term positions. He warned the U.S. risks falling behind other nations if it does not accelerate investments in digitization and tokenization, and predicted cryptocurrency-driven tokenization will see "tremendous growth" in coming years.
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