Several industry leaders, including Binance CEO Changpeng Zhao (CZ), Bitwise CIO Matt Hougan, and the CEO of CME Group, have stated that sovereign wealth funds and high-net-worth individuals are increasingly purchasing Bitcoin for reserves and investment purposes. CZ claims that many countries are now buying Bitcoin for their reserves and suggests that "countries are now forced to buy" as adoption accelerates at the sovereign level. Bitwise CIO Matt Hougan reports that sovereign entities are acquiring both spot Bitcoin ETFs and Bitcoin directly, indicating a growing institutional and nation-state interest in digital assets. The CEO of CME Group also commented that countries are buying Bitcoin, describing the trend as something that 'can no longer be ignored.' Mubadala is reportedly stacking $IBIT, and a $600 billion deal could potentially direct significant oil money into Bitcoin, with $2 billion in stablecoins recently moved. If 1% of the Gulf's $4 trillion war chest is allocated to Bitcoin, it would represent a $40 billion buy. A recent survey by The Nakamoto Project found that 80% of Americans support the United States converting at least some of its gold reserves into Bitcoin, with the median preferred conversion rate being 10%. The survey included 3,345 respondents and shows particularly strong support among younger generations. Binance's $200 billion valuation is noted in the context of these developments, as sovereign wealth funds and ultra-high-net-worth individuals are accumulating Bitcoin at unprecedented levels.