Coinbase Executive: Sovereign Wealth Funds and Insurance Funds Quietly Accumulated Bitcoin in April

According to Cryptoslate, John D'Agostino, Institutional Strategic Head at Coinbase, revealed that large institutional investors, including sovereign wealth funds and major insurance funds, increased their Bitcoin investments throughout April as part of a broader portfolio strategy related to macroeconomic changes.

These traditionally conservative institutional investors adjusted their allocations based on three major factors: the trend of de-dollarization, the re-evaluation of Bitcoin's value relative to tech stocks, and its inflation-resistant properties as an alternative to gold.

D'Agostino pointed out that the new tariff policies announced by the U.S. Trump administration on April 2nd triggered renewed discussions among global allocators about the durability of the U.S. dollar as the primary reserve currency. Although Bitcoin ETFs experienced net outflows for most of April (with a sudden inflow of $1.3 billion on April 21-22), Coinbase monitored continuous net buying by institutions, which explains the 13% increase in Bitcoin's price against the trend that month.

Data shows that Bitcoin is decoupling from its previous high correlation with tech stocks. Its fixed supply and tamper-proof characteristics have placed it among the top five alongside gold and real estate in the inflation-resistant asset models of global macro traders. D'Agostino emphasized that while sovereign investors will not publicly disclose specific holdings, the continued entry of "long-term capital" indicates an increasing recognition of Bitcoin as a strategic reserve asset among institutions.