Coinbase executive: Sovereign wealth funds are making big purchases of Bitcoin

On April 24th, according to Cointelegraph, John D'Agostino, the head of institutional strategy at Coinbase, stated that sovereign wealth funds and other institutions are accumulating a large amount of Bitcoin (BTC) in April 2025, while retail investors are exiting the market through ETFs and spot trading. In a recent interview, the Coinbase executive compared Bitcoin to gold and stated that many institutional investors buy Bitcoin to hedge against currency inflation and macroeconomic uncertainty. The executive stated, "Bitcoin trading is based on its core features, which are similar to gold in terms of scarcity, immutability, and portability of non sovereign assets. Therefore, its trading method is exactly the way those who believe in Bitcoin hope it can be traded