The Founder of the Investment Management Company Talked About the Future of Bitcoin (BTC)! What to Expect?

Speaking at Coinbase's State of Crypto Summit event held in New York, Philippe Laffont, founder of Coatue Management, stated that the increasingly stable volatility of Bitcoin and institutional interest are moving it to a more central position in investment portfolios.

According to Laffont, despite Bitcoin showing nearly a 13% increase so far in 2025, its volatility has significantly decreased compared to previous years. The sharp price fluctuations of BTC had previously caused Coatue to avoid investing. However, this situation is changing now. Laffont, who said, "The cost of entering Bitcoin may be decreasing. If the beta is falling, that would be really interesting," pointed out that the beta, which is a measure of volatility compared to the overall market, has decreased over time.

The launch of Bitcoin ETFs by giants like BlackRock is a clear indication that BTC has matured, according to Laffont. Laffont also reminded that Bitcoin lost more than 60% of its value in 2022, but this decline was more striking compared to the fluctuations experienced after Trump’s tariff announcement in April 2025.

"Between April 2-10, while Nasdaq fell more than 6%, Bitcoin only declined by 5%. This shows that Bitcoin has now become a more resilient asset to market risk events," he said.

Additionally, the rate of coins held in Bitcoin wallets for at least one month that are completely sold off has also significantly decreased. This indicates that investors are starting to move away from short-term speculation and see Bitcoin as a long-term store of value.

Laffont pointed out that Bitcoin's share of the total global wealth is still very low at approximately 2 trillion dollars, (%0.4), and stated that it is inevitable for this rate to increase over time:

"If people's belief in the value of Bitcoin continues, this asset will appreciate over time, which means it should become more central in portfolios."

Nevertheless, Laffont warned investors that the weight of Bitcoin in the portfolio should not be exaggerated:

"Even if you think Bitcoin will be important, do not allocate a large portion of your portfolio to it. A small but long-term position can put you under less stress and potentially earn you more."

Laffont, who admitted that Coatue missed the Bitcoin opportunity before, attributes this to their inability to think simply. According to Laffont, in the investment world, focusing on assets that people believe are valuable is often more profitable than complex models.

"It is enough for everyone to believe that something is valuable for it to be valuable. It was that simple, and we overlooked it."

Technology-focused hedge fund Coatue has invested in crypto and technology companies such as Dune Analytics, Bitcoin miner Hut 8, and artificial intelligence firm CoreWeave. CoreWeave also has a partnership with Bitcoin miner Core Scientific.

Laffont, who divides investors into three categories, stated that there are those who completely leave crypto to themselves, those who question why they entered Bitcoin late, and cautious investors who want to avoid crypto. However, he noted that this cautious group has been decreasing a little more each year:

"This abstaining group is disappearing. They are dwindling in number a little more each year."

*It is not investment advice.

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