According to Global macro investor Raoul Pal, Singapore’s sovereign wealth fund Temasek Holdings bought Bitcoin from miners.
This information was revealed by Raoul during a recent appearance on a podcast. However, he repeated the same claim on Twitter as well.
The information, however, has not been confirmed by Temasek Holdings.
Temasek Holdings Limited is a Singaporean holding company owned by the Government of Singapore. He owns and manages a net portfolio of S $ 306 billion (as of March 31, 2020).
The sovereign wealth manager is not new to the cryptocurrency space. In 2018, he invested in Binance Singapore, a platform that allows Singaporeans to buy Bitcoin and cryptocurrency.
At the time of writing this article, a Bitcoin is worth US $ 53,773.47 (S $ 72,422.92). According to data from Coindesk, it was worth around $ 14,000 (S $ 18,855) in 2018.
Bitcoin’s popularity has recently reached new heights, and even traditional banking giants like Morgan stanley have started offering access to Bitcoin funds.
More recently, electric car giant Tesla has also started accepting Bitcoin as a means of payment for its vehicles.
Featured Image Credit: Financial Times