Coatue Founder: Bitcoin Is Becoming a ‘Core Asset’ in Portfolios
On June 14, Philippe Laffont, founder of Coatue Management, said that while bitcoin’s high volatility had deterred investors in its early days, several factors are now driving the mainstream crypto asset class to become a key component of investment portfolios, CNBC reported.
The founder of the tech-focused hedge fund made the comments Thursday at the Coinbase State of Crypto Summit in New York City.
For starters, Laffont noted that bitcoin’s overall volatility is declining, despite the fact that it has risen nearly 13 percent so far in 2025. He said that the high volatility of bitcoin’s price has deterred many potential investors in the past and was the main reason Coatue didn’t invest in bitcoin for a while.
What’s interesting to me is that maybe …… the price of entry into bitcoin is getting smaller,” he said on stage. If its beta, which measures the volatility of the asset relative to the market, shrinks, that would make a lot of sense.”
In addition, he mentioned that the fact that institutional investors are beginning to embrace Bitcoin also signals the growing maturity of the asset class. BlackRock, for example, has been one of the leaders in pushing for the listing of a Bitcoin spot ETF.