After gold surge, investors target Bitcoin, says Coinbase executive

• Institutional Investors Seek Bitcoin as Financial Protection
• BTC gains ground after gold appreciation in 2024
• Cryptocurrency is an alternative in scenarios of prolonged inflation

John D'Agostino, head of institutional strategy at Coinbase, said that Bitcoin (BTC) has been gaining traction among institutional investors as a viable alternative to gold. The statement was made during an interview with Squawk Box program , from CNBC, in which the executive highlighted the growing interest of major market players in BTC, after many missed out on the precious metal's appreciation.

According to D'Agostino, Bitcoin is positioned as an attractive asset for those seeking protection against inflation and macroeconomic risks. He highlighted four fundamental characteristics that make BTC comparable to gold: scarcity, immutability, portability, and independence from governments.

“Many investors see that if the de-dollarization trend continues, gold would be the natural choice. But if they missed that move, they look to Bitcoin as a second alternative,” the executive said.

When mentioning the performance of assets in prolonged inflation scenarios, D'Agostino explained that studies conducted by large commodity traders indicate that BTC is among the five most effective assets for long-term protection. In these studies, baskets composed of cryptocurrencies, real estate and government bonds were analyzed, with a focus on preserving value over the decade.

The executive also noted that while retail investors have reduced their exposure to BTC through sales in ETFs and spot markets, institutional capital has increased its presence. This trend reflects a strategic repositioning of sovereign wealth funds and institutions in the face of the current geopolitical and economic instability.

At the time of the statement, Bitcoin was trading at $93.469, up 1% in the last 24 hours.