When Bitcoin fell from $125K to $60K, not one of the 15 major institutions Bitwise interviewed sold, and many bought more. Ryan Rasmussen, head of research at Bitwise, breaks down the firm’s first institutional crypto adoption report, covering pensions, endowments, foundations, and sovereign wealth funds, and why they treat Bitcoin alongside gold as a hedge against debasement.

Chapters:0:00 Ryan Rasmussen on Bitwise’s Institutional Crypto Adoption Report0:49 Why No Institutions Sold Bitcoin During the Bear Market1:45 Wells Fargo’s 2–3% Bitcoin Allocation and the Debasement Thesis3:45 Fidelity, BlackRock, and 2–8% Bitcoin Allocations4:50 How ETFs Made This Bitcoin Bear Market Shallower6:24 $2.5B in Weekly ETF Inflows and a New Wave of Capital7:06 Why Bitwise Believes the Bitcoin Bottom Was $60K9:36 Why Institutions Hold Both Bitcoin and Gold11:37 Sovereign Wealth Funds Selling Gold to Buy Bitcoin15:17 Why Bitcoin Isn’t Correlated to Bonds, Gold, or Stocks

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