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Bitcoin Boom: Sovereign Wealth Funds Eye Digital Gold
Elon Musk Jokes, But Is the U.S. Ready for a Bitcoin Reserve?
Trump’s Team to Decide: Will the U.S. Boost Bitcoin Holdings?
The global race for sovereign wealth funds to invest in Bitcoin may finally be heating up. Abu Dhabi’s Mubadala Investment Company, one of the world’s largest sovereign wealth funds, has emerged as the seventh largest shareholder in BlackRock’s Bitcoin ETF, according to a newly disclosed 13-F filing.
According to Abra CEO Bill Barhydt, this could be the catalyst that encourages other sovereign wealth funds to increase their Bitcoin allocations in the coming months.
“What they’re really saying is, ‘we accept Bitcoin as a legitimate asset,'” Barhydt told Coinage on Monday. He further speculated that Norway and Singapore might be next in line to make similar moves.
Elon Musk Hints at Bitcoin Strategy for the U.S.?
Meanwhile, in the U.S., Elon Musk stirred speculation by sharing a meme on X (formerly Twitter) on Monday. The meme joked about what might be found if the Department for Government Efficiency audited Fort Knox’s gold reserves.
“This gold is the property of the American people. I sure hope it’s still there!” Musk posted.
His post drew a quick response from MicroStrategy CEO Michael Saylor, a well-known Bitcoin advocate, who replied:
“Bitcoin fixes this.”
This has fueled speculation that Musk might be laying the groundwork for promoting a U.S. Strategic Bitcoin Reserve, a move that could reshape the global financial landscape.
Will the U.S. Join the Bitcoin Rush?
Despite these discussions, Barhydt remains skeptical about any immediate shift in U.S. policy toward Bitcoin acquisition.
“At the very least, the U.S. will hold onto the Bitcoin it already has,” he said. “We’ll try to buy more, but it’s going to be harder than people expect.”
Adding to the anticipation, former President Donald Trump’s working group is expected to release an official recommendation on digital assets in the next few months.
With major economies and sovereign funds showing interest, the big question now is: Will Bitcoin become the next global reserve asset?
