In April 2025, sovereign wealth funds increased Bitcoin investments, while retail traders exited. Coinbase executive John D’Agostino compared Bitcoin to gold, citing its scarcity and reliability as a hedge against macroeconomic issues. Additionally, institutions adopt Bitcoin to preserve purchasing power, with countries like El Salvador integrating Bitcoin into reserves, similar to strategies used by firms like MicroStrategy.
In April 2025, sovereign wealth funds and institutions began acquiring Bitcoin (BTC) while retail traders exited through ETFs and spot markets. John D’Agostino, head of strategy at Coinbase Institutional, highlighted this trend, noting that retail investors’ withdrawal contrasts with the significant interest from institutional buyers who seek to hedge against inflation and macroeconomic uncertainties. He compared Bitcoin to gold, citing its scarcity, immutability, and portability as core attributes that drive its trade performance.
