PANews reported on April 24 that according to Cryptoslate, John D'Agostino, Coinbase's institutional strategy head, revealed that large institutional investors, including sovereign wealth funds and major insurance funds, increased their Bitcoin investments throughout April as part of a broader portfolio strategy related to macroeconomic changes. These traditionally conservative institutional investors adjusted their allocation based on three key factors: de-dollarization trend, Bitcoin's value reassessment relative to tech stocks, and its inflation-resistant properties as a gold alternative. D'Agostino noted that the new tariff policy announced by the Trump administration on April 2 reignited global discussions about the durability of the dollar as the primary reserve currency. Although Bitcoin ETFs showed net outflows for most of April (with a sudden $1.3 billion inflow on April 21-22), Coinbase observed continuous net buying by institutions, which explains Bitcoin's countertrend price increase of 13% that month.
Data shows that Bitcoin is moving away from its previous high correlation with tech stocks, and its fixed supply and immutability have positioned it among the top five anti-inflation assets in global macro traders' models, alongside gold and real estate. D'Agostino emphasized that while sovereign investors do not publicly disclose specific holdings, the continuous entry of "long-term capital" indicates an increased institutional recognition of Bitcoin as a strategic reserve asset.
