Institutional Investors Unfazed by Bitcoin's Decline

Institutional investors in Hong Kong and the UAE remain optimistic about Bitcoin's value as a store of wealth, despite its recent decline.

A survey conducted by John D'Agostino, Head of Institutional Strategy at Coinbase, revealed that not a single investor changed their thesis on Bitcoin's value due to price volatility.

The investors, who have been consistently investing in Bitcoin over the past five to seven years, are leveraging their natural resources to buy and hold the asset. For example, those in the Middle East are using fossil fuel sales, while those in China are utilizing trade surpluses.

In addition to buying Bitcoin, these institutional investors are also heavily investing in adopting blockchain technology for infrastructure development.