🙌🏻Coinbase Head of Strategy: Institutions Are Buying Bitcoin in Droves

Yesterday, Coinbase's Head of Institutional Strategy, John D'Agostino, revealed in an interview with CNBC that sovereign wealth funds and other institutional investors have been actively accumulating Bitcoin this month, while retail traders are exiting through ETFs and the spot market.

He compared Bitcoin to gold, pointing out that these institutional investors are buying Bitcoin to hedge against inflation and macroeconomic uncertainty. He stated:

"Bitcoin is demonstrating its core characteristics, very similar to gold: scarcity, immutability, and the portability of a non-sovereign asset. Therefore, its trading performance is meeting the expectations of Bitcoin supporters."

He added that after in-depth research, there are very few assets that can rival the characteristics of gold, and Bitcoin is definitely one of them.