PANews reported on April 24 that according to Cryptoslate, John D'Agostino, head of institutional strategy at Coinbase, revealed that large institutional investors, including sovereign wealth funds and major insurance funds, increased their investment in Bitcoin throughout April as part of a broader portfolio strategy related to macroeconomic changes. These traditional conservative institutional investors adjusted their allocations based on three major factors: the trend of de-dollarization, the revaluation of Bitcoin relative to technology stocks, and its anti-inflation properties as a substitute for gold. D'Agostino pointed out that the new tariff policy announced by the Trump administration of the United States on April 2 triggered a renewed discussion among global allocators on the durability of the US dollar as the main reserve currency. Although Bitcoin ETFs showed net outflows for most of April (a sudden inflow of $1.3 billion on April 21-22), Coinbase monitored continued net buying by institutions, which explains the 13% rise in Bitcoin prices against the trend that month.
Data shows that Bitcoin is breaking away from its previous high correlation with technology stocks. Its fixed supply and non-tamperability make it one of the top five inflation-resistant assets in the global macro traders' model, along with gold and real estate. D'Agostino stressed that although sovereign investors will not disclose their specific holdings, the continued entry of "long-term capital" indicates that institutions have increased their recognition of Bitcoin as a strategic reserve asset.