Coinbase Executive: Sovereign Wealth Funds Are Buying Bitcoin in a Big Way
April 24, 2025 John D’Agostino, head of strategy for Coinbase’s institutional division, said sovereign wealth funds and other institutions are amassing large amounts of bitcoin (BTC) at the same time that retail investors, through the ETFs and spot exits the market.
In a recent interview, the Coinbase executive compared Bitcoin to gold and said that many institutional investors are buying Bitcoin as a hedge against currency inflation and macroeconomic uncertainty.
Bitcoin trades based on its core characteristics, which are similar to gold in that it has scarcity, immutability, and portability of a non-sovereign asset,” the executive said. So it trades exactly the way those who believe in Bitcoin want it to trade.”