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Sovereign funds and other institutional investors led this month Bitcoin rally, even if retail merchants rushed for outings, said Coinbase.
“The institutions, the sovereigns, the patient basins of patients accumulated,” said John d’Agostino, head of the strategy at Coinbase Institutional, in an interview with CNBC. “At the same time, the retail market came out – largely through ETF.”
D’Agostino said many institutional investors treat Bitcoin as coverage against inflation and macroeconomic uncertainty, in particular because of the concerns about President Donald Trump’s pricing policies.
He compared the current role of Bitcoin in portfolios to that of gold. “Bitcoin is negotiated on its basic characteristics, which are again similar to gold,” he said. “You have the rarity, immutability and portability of non -sovereign assets.”
D’Agostino continued by saying that Bitcoin is on a “very short list of assets which reflect the characteristics of gold”.
Bitfinex analysts warn Bitcoin resilience may not last
The wider financial market has undergone a strong correction since the start of the year in the midst of an ongoing tariff war between the United States and its business partners. American actions in particular have struck in recent weeks.
During macroeconomic turbulence, Bitcoin proved to be relatively resilient. While the S&P 500 tumbled More than 6% in recent months, BTC has gained a gain about the same amount.
🇺🇸 CNBC has just said #Bitcoin Is obviously decoupled from Nasdaq
It happens !!! 🚀 pic.twitter.com/0tnm0uwjm5
– Vivek⚡️ (@ vivek4real_) April 22, 2025
Despite the recent BTC force, and Asset By referring to the softening of prices on China, Bitfinex analysts warn that it could be too early to know if the recent Bitcoin divergence of the wider financial market will continue.
In an April 21 research reportBitfinex analysts said that BTC’s relative force against American actions “seems real”, but added that decoupling has not yet been confirmed as structural.
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