Bitcoin historian and editor Pete Rizzo reported on Wednesday that Bitwise, a $15 billion ETF issuer, has announced a significant shift in sovereign wealth fund behavior. Rizzo stated on X at 09:56:57 UTC, “BREAKING: $15 BILLION ETF ISSUER BITWISE JUST ANNOUNCED COUNTRIES ARE NOW SELLING THEIR GOLD RESERVES TO BUY #BITCOIN "THERE IS A LOT OF INTEREST IN BTC AMONG THE SOVEREIGN WEALTH FUNDS WE SPOKE TO" IT'S FINALLY HAPPENING ”. The post highlights a direct claim from Bitwise regarding increased interest and purchasing activity for Bitcoin among national wealth funds, suggesting a major reallocation of traditional reserve assets.
The claim of sovereign entities converting gold to Bitcoin comes as the cryptocurrency market has shown strong performance. Bitcoin itself cleared $84,000 recently, eyeing $100,000 after a double-bottom breakout. Bitcoin's market capitalization dominance stands at 60%, with some analysts touting its bedrock status. Exchange holdings also reflect growth, with OKX Bitcoin holdings jumping 4.07% to 139,865 BTC in its latest proof-of-reserves. As of 2026-09-30T11:10 UTC, the Crypto Fear & Greed Index is at 71, signaling “Greed” in the market.
Rizzo's report, relaying Bitwise's observation, implies a potential acceleration in institutional and even national adoption of Bitcoin as a reserve asset. If countries are indeed shifting from traditional safe-haven assets like gold to Bitcoin, it suggests a profound re-evaluation of global financial strategies. This trend, if confirmed, could further bolster Bitcoin's legitimacy and price stability, positioning it as a more mainstream component of sovereign portfolios. Investors will likely watch for official confirmations from sovereign wealth funds or further data from major asset managers to validate this reported shift in asset allocation.
