Coinbase Strategy Chief Speaks About Bullish Outlook Following Recent Bitcoin Rally: “Financial Advisors Haven’t Even Entered the Game Yet”

Bitcoin managed to stay above the $ 100,000 level, breaking a historical threshold, and briefly saw $ 106,000. This rise of the largest cryptocurrency, which has gained more than 70% in the last year, has further increased the interest of investors and institutions. Coinbase Institutional Strategy President John D’Agostino participated in CNBC’s Squawk Box program and evaluated the latest developments. D’Agostino stated that Bitcoin should not be evaluated like technology stocks and said, “It is more appropriate to view Bitcoin as a store of value with rarity like gold.” D’Agostino noted that investor interest in spot Bitcoin ETFs has increased significantly in recent weeks, with more than $5.5 billion inflows into these products. Noting that Coinbase provides custodian services for many of these ETFs, D’Agostino said the vast majority of incoming funds came through ETFs rather than direct Bitcoin purchases. Another thing that’s remarkable is that these ETFs have attracted so much interest without being actively recommended by financial advisors. “It’s extraordinary that this has been achieved before sales teams are even allowed to recommend these products to their clients. When that changes, the impact could be much greater,” D’Agostino said. D’Agostino, who also evaluated cryptocurrencies other than Bitcoin, described most of the coins outside the top 20 as a type of “venture capital pool.” He stated that while some of these assets may achieve great success, most may fail, so investors should shape their portfolios accordingly. D’Agostino also touched on the issue of regulations for cryptocurrencies, arguing that clearer and more comprehensive legal frameworks are needed in the U.S. “More laws, clearer rules, and enforceable regulations are in the best interest of all of us,” he said. D’Agostino also touched on ethical debates regarding US Congress members trading cryptocurrencies, stating that all market participants should be subject to the same rules. “Whether it’s stocks or Bitcoin, insider trading should be prevented,” he said. *This is not investment advice. Source: https://en.bitcoinsistemi.com/coinbase-strategy-chief-speaks-about-bullish-outlook-following-recent-bitcoin-rally-financial-advisors-havent-even-entered-the-game-yet/