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BTC Bitwise：机构增持比特币，部分主权基金抛售黄金
Bitwise研究主管Ryan Rasmussen分享了该公司首份机构加密资产采用报告的发现，重点关注主要金融机构对比特币的策略。Bitwise是一家知名的资产管理公司，专门从事加密货币指数基金业务，并提供关于数字资产市场的研究。
机构对比特币的承诺
Rasmussen透露，当比特币从12.5万美元下跌至6万美元时，Bitwise调查的15家领先机构中，没有一家选择卖出其持仓。相反，在低迷期间，几家机构趁机增加了比特币的配置。参与者包括养老金、捐赠基金、基金会和主权财富基金。
据Rasmussen介绍，这些机构投资者现在将比特币视为与黄金类似的资产，将其作为对抗货币贬值和通胀风险的战略对冲工具。
在解释过程中，Rasmussen强调，尽管价格大幅下跌，主要投资者仍表现出坚定的信念。他指出，一些人不仅持有现有仓位，还积极购买更多比特币以增强投资组合。
配置策略与市场影响
The report cited the case of banks and asset management companies such as Wells Fargo, which set bitcoin allocation ratios at 2% to 3% of their long-term strategy. Giants such as Fidelity and BlackRock, which manage large amounts of client assets, have also considered setting bitcoin allocation ratios between 2% and 8%. These initiatives reflect institutions 'continued acceptance of cryptocurrencies as part of their investment portfolios.
Rasmussen pointed out that the launch of spot bitcoin exchange-traded funds (ETFs) has helped increase stability during the recent market downturn, making this bitcoin bear market more moderate than previous cycles.
He also reported that recent weekly inflows into spot Bitcoin ETFs reached US$2.5 billion, which Bitwise interpreted as a signal of strong institutional participation and a sign that a new wave of capital may enter the digital asset market.
Sovereign wealth fund strategy shift
It is worth noting that Rasmussen mentioned that some sovereign wealth funds adjust their portfolios by selling some of their gold reserves in order to buy Bitcoin. He said the shift highlighted a growing view that while bitcoin and gold are both seen as stores of value, the hedging and diversification strategies they target have similar investment goals.
他还解释说，机构同时持有这两种资产，以管理货币贬值或经济不稳定的风险，通常将它们视为互补组件而非替代品。
Rasmussen澄清道，根据Bitwise的研究，比特币的价格与传统资产类别（如债券、黄金或股票）的相关性有限，这进一步支持了其作为机构投资组合中多样化工具的角色。
背景知识
Bitwise：一家为专业和个人投资者提供基于指数和策略的加密货币基金的资产管理公司。该公司以提供市场洞察和数据驱动的研究而闻名，常被行业参与者引用，以了解数字资产中的机构趋势。
研究强调，机构投资者不再追随历史相关性，而是将比特币视为一种独立的资产类别，能够在宏观经济不确定性时期提供多样化收益。
