In a recent podcast episode of 'The Bitcoin Layer,' Daniel Batten discussed the potential impact of sovereign wealth funds (SWFs) investing in Bitcoin. Highlighting their massive $35.7 trillion asset base, Batten predicts Bitcoin could reach $148,000 if just 1% of these funds are allocated to it.
The main obstacle is not interest, but ESG (Environmental, Social, and Governance) investment criteria, which often rely on outdated information about Bitcoin mining's environmental impact. Batten argues the actual environmental footprint is more favorable now.
He has begun educating SWFs to update their ESG criteria, pointing to the positive influence smaller investments, like those by Wisconsin and Michigan state pension plans, have already had on market perceptions.
Batten believes SWFs are more likely to invest in Bitcoin compared to nation-states or major corporations, thus potentially initiating a Bitcoin bull run while also stabilizing and legitimizing the market for conservative investors.
