The post Sovereign Wealth funds accumulating Bitcoin as retail investors exit, says Coinbase executive appeared on BitcoinEthereumNews.com.

More sovereign wealth funds are accumulating Bitcoin (BTC) as retail investors flee the market. According to a Coinbase executive’s recent statements, there is a correction in the dynamics of BTC ownership. Retail traders are fleeing the markets through exchange-traded funds (ETFs) and the spot markets, said John D’Agostino, the head of strategy at Coinbase.  Sovereign Wealth funds turn to Bitcoin amid retail investor exit In a recent interview on CNBC, the Coinbase executive compared  Bitcoin to gold and noted that several institutional buyers bought BTC as a hedge against currency inflation and macroeconomic uncertainty. The Coinbase executive said: “Bitcoin is trading on its core characteristics, which are similar to gold. You’ve got scarcity, immutability, and non-sovereign asset portability. So it’s trading the way people who believe in Bitcoin would like it to trade.” The executive also mentioned that after thorough analysis, there is a very short list of assets that share the characteristics of gold, and BTC is on that list. Authorities and financial organizations are increasingly adopting Bitcoin to safeguard their buying power and the value of their treasuries in the face of macroeconomic shocks and geopolitical tensions. Countries such as El Salvador and Bhutan have embraced national Bitcoin reserves, actively purchasing Bitcoin to bolster their reserves. Local governments and state-level authorities have also adopted pro-Bitcoin policies and proposed legislation to accumulate Bitcoin to protect the purchasing power of treasuries from depreciating fiat currencies. Michael Saylor and Strategy played a pivotal role in popularizing the corporate BTC treasury model, which has now been embraced by many companies, such as MARA, MetaPlanet, and Semler Scientific. Saylor also converted the business software and intelligence firm into a Bitcoin holding firm, effectively resembling a BTC hedge fund. More than 13,000 institutions now hold direct stakes in Strategy, and about 55 million beneficiaries have indirect…

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Filed under: News - @ April 24, 2025 1:19 am