According to Global macro investor Raoul Pal, Singapore’s sovereign wealth fund Temasek Holdings buys Bitcoin from miners.
This information was revealed by Raoul during a recent podcast appearance. However, he repeated the same claim on Twitter.
However, Temasek Holdings did not confirm the information.
Temasek Holdings Limited is a Singapore holding company, owned by the Singapore government. It owns and manages a net portfolio of $ 306 billion (as of March 31, 2020).
The manager of the state wealth fund is not new in the area of cryptocurrencies. Back in 2018, he invested in Binance Singapore, a platform that allows Singaporeans to buy Bitcoin and cryptocurrencies.
At the time of writing, one is Bitcoin valid $ 53,773.47 ($ 72,422.92). According to Coindesca, it was worth about $ 14,000 ($ 18,855) in 2018.
The popularity of Bitcoin has been growing to new heights lately, and even traditional banking giants like it Morgan Stanley have started offering access to Bitcoin funds.
Recently, the giant of electric cars Tesla also had it started accepting Bitcoin as a method of payment for their vehicles.
Credit for featured images: Financial Times