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Posted by
Two Blokes Apr 24 -
Filed in
Crypto
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Sovereign wealth funds and other institutions were accumulating Bitcoin (BTC) during April 2025, while retail traders were exiting the markets via exchange-traded funds (ETFs) and spot markets, according to John D'Agostino, the head of strategy at Coinbase Institutional.During a recent appearance on CNBC, the Coinbase executive likened Bitcoin to gold and said that many 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 again are similar to gold.
