Bitcoin, Gold Are Top Inflation Hedges, Says Coinbase's John D'Agostino

Bitcoin BTC/USD is increasingly being viewed in the same league as gold when it comes to long-term inflation hedging, according to John D'Agostino, Head of Strategy for Coinbase COIN Institutional.

What Happened: Speaking with CNBC as Bitcoin traded near $92,500 levels on Thursday morning, D'Agostino emphasized that Bitcoin has now earned a place next to gold in strategic asset allocations aimed at protecting capital during periods of financial stress.

"In every single one of their analysis, Bitcoin was top five," he said, referring to top global commodity traders who ran inflation hedge simulations. "Bitcoin and gold go side by side."

The statement comes amid heightened institutional interest in Bitcoin as a non-sovereign asset.

D'Agostino noted that while retail investors have been exiting Bitcoin ETFs in April, institutional players, including sovereign wealth funds and insurance pools, were steadily accumulating directly.

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This divergence in behavior coincided with a 13% rise in Bitcoin’s price, outpacing gold’s 10.5% during the same period.

"There's a very short list of assets that mirror the characteristics of gold," D'Agostino said, highlighting scarcity, immutability, portability, and non-sovereign status as core attributes shared by both assets.

He added that some investors, having missed the rally in gold, are now positioning in Bitcoin as a second inflation hedge. "You look at that rally and say, I missed the boat on that. What other assets could participate?"

What’s Next: While stressing that no asset is a perfect hedge, D'Agostino's comments reflect growing alignment in institutional strategy that views Bitcoin as a viable component of long-term inflation protection, especially as macro conditions like de-dollarization and geopolitical volatility evolve.

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