Gutmann made the disclosure during a virtual podcast session with investment strategist and founder of Real Vision Raoul Pal. According to the CEO, his firm has been having discussions with sovereign wealth funds on possible Bitcoin investments.
Pal corroborated Gutmann’s assertions, stating that Temasek, a Singaporean sovereign wealth fund had invested in Bitcoin. Pal further revealed that the holding company, who has about $306 billion in assets under management, had been buying Bitcoin from miners. Pal described the move from this class of investors as a “wall of money.”
There have been speculations that governments would take a cue from publicly-listed firms like MicroStrategy and Tesla (NASDAQ:TSLA) that have embraced the flagship cryptocurrency by investing billions of dollars in it.
MicroStrategy’s Michael Saylor had earlier voiced a similar view. In his case, he claimed that the move was inevitable.
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Source: Cryptocurrency - investing.com
