Abu Dhabi Deepens Bitcoin Holdings Amidst Market Fluctuation

The Abu Dhabi Investment Council (ADIC) dramatically increased its Bitcoin exposure during the third quarter of 2023, tripling its holdings in BlackRock’s iShares Bitcoin Trust (IBIT). This move came during a period of significant market volatility for Bitcoin. Despite a sharp decline in value from a record high of $125,100 in early October to below $90,000 this week, ADIC’s investment strategy remained strong.