Institutions Held Their Bitcoin Through Crash — and Some Bought More: Report

According to Bitcoin Magazine, a new report from Bitwise Asset Management reveals that major institutional investors did not sell their bitcoin when crypto prices dropped by half between October 2025 and April 2026. Instead, several institutions bought more during the sell-off. Bitwise interviewed senior allocators at 15 major institutions, including endowments, pension funds, sovereign wealth funds, family offices, and public companies, finding that not one reduced its crypto allocation. Every institution owning crypto in the study holds bitcoin, and for nearly all of them, it is their largest and longest-held crypto asset. Allocators frequently compare bitcoin to gold as a hedge against currency debasement, with some treating it as part of a gold allocation or funding purchases by selling gold and foreign exchange reserves. Institutions stated they would exit only if the underlying investment thesis broke due to regulatory reversals or industry-wide credibility crises, rather than price volatility. Bitwise anticipates that a majority of institutions will hold crypto within five years.