Coinbase Executive: Sovereign Wealth Funds Are Heavily Buying Bitcoin

John D'Agostino, Head of Strategy for Coinbase's Institutional Division, stated that in April 2025, sovereign wealth funds and other institutions are heavily buying $BTC, while retail investors are exiting the market through ETFs and spot sales.

In an interview, John D'Agostino compared Bitcoin to gold, noting that many institutional buyers purchase $BTC to hedge against currency inflation and macroeconomic uncertainties.

The trading trends of $BTC are reflecting its core characteristics, which are very similar to gold. It possesses scarcity, immutability, and portability as a non-sovereign asset. (Cointelegraph)