World Coin in the spotlight of institutions; Multicoin Capital bought 60 million WLD!

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Investment firm Multicoin Capital recently purchased 60 million World Coins (WLD) through an over-the-counter (OTC) transaction with the project team.

This move has been made while the price of WLD has decreased by 21% over the past month and the interest of retail investors has fallen sharply.

Data from China shows that the number of new active wallets has dropped significantly since September, and Google searches for Worldcoin have also fallen from a peak of 100 to 6.

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Institutions are still piling in, despite declining demand from retail investors, and Multicoin Capital’s purchase is a prime example of their long-term confidence. At the time of writing, WLD is trading at $0.496, up 2.57% on the day.

This purchase was made while the WorldCoin project is under increasing regulatory pressure. Legal and operational risks for users and investors have increased after the actions of the Thai authorities and the suspension of biometric registration activities of more than 1 million people.

Multicoin Capital’s recent deal shows that while retail investors have become wary, institutions still believe in the long-term potential of WorldCoin.