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Coinbase Executive Reveals Key Factors Behind Bitcoin's Recent Surge

John D’agostino, Coinbase Institutional’s head of strategy, discusses Bitcoin’s recent rally above $105,000 and highlights an overlooked aspect of Bitcoin ETFs.
Published on 2025-05-12

Bitcoin's Recent Rally Explained

John D’agostino, head of Strategy at Coinbase Institutional, recently appeared on CNBC’s Squawk Box to discuss Bitcoin’s brief surge above $105,000. He emphasized that Bitcoin is neither "gold" nor "Nasdaq" but rather a unique asset class. Over the past year, Bitcoin has seen a remarkable 70% increase, outperforming both gold and traditional tech stocks.

D’agostino highlighted three key reasons for Bitcoin’s outperformance: its proximity to tech stocks, its role as an inflation hedge, and its potential to catch up with gold. However, he also introduced a fourth crucial factor—scarcity. Unlike gold, Bitcoin’s supply cannot be easily increased to meet rising demand, making it a more attractive store of value.

A Major Overlooked Nuance About Bitcoin ETFs

During the discussion, D’agostino shed light on an often-overlooked aspect of Bitcoin ETFs. Currently, financial brokers are restricted from recommending these ETFs to clients. However, he predicts this could change soon, potentially leading to even greater inflows into Bitcoin ETFs. Since his last appearance on the show, Bitcoin ETFs have seen massive inflows of approximately $5.5 billion, far surpassing gold ETFs.

This insight underscores Bitcoin’s growing appeal as a scarce and highly sought-after asset, positioning it for further growth in the financial markets.

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