At the State of Crypto Summit hosted by Coinbase in New York, Coatue Management founder Philippe Laffont outlined why Bitcoin is becoming increasingly relevant to institutional portfolios.
Laffont emphasized that Bitcoin’s volatility has decreased significantly. Despite a 13% price rise in 2025, BTC’s beta—its volatility relative to the broader market—has declined. “If beta is decreasing, that would be really interesting,” Laffont said, noting it lowers the cost of entry for long-term investors like Coatue.
He also pointed to a key comparison: following President Trump’s tariff announcement in April, Bitcoin dropped just 5%, while the Nasdaq fell over 6%. This performance, Laffont said, reinforces Bitcoin’s resilience to broader market stress.
The launch of Bitcoin ETFs by major firms like BlackRock is another sign of maturation. Meanwhile, blockchain data shows a sharp drop in coin movement from wallets holding BTC for over a month, suggesting investors are shifting toward long-term holding.
Bitcoin’s current market cap of about $2 trillion still represents just 0.4% of global wealth. Laffont expects this share to rise over time as belief in Bitcoin’s value solidifies. “If people believe it’s valuable, it becomes valuable,” he stated.
Despite Coatue previously avoiding Bitcoin due to its volatility, Laffont now says the firm may have overthought it. “We missed it because it was too simple,” he admitted.
Still, he advised caution. “Don’t put a large portion of your portfolio into Bitcoin. A small, long-term position can be both profitable and less stressful.”
He also noted that the group of investors who completely avoid crypto is shrinking year by year. “That cautious audience is disappearing,” he said.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
Source: https://coindoo.com/bitcoin-gains-institutional-trust-as-volatility-drops/