Coatue Founder: Bitcoin Will Become a More Central Asset in Investment Portfolios

Philippe Laffont, founder of hedge fund giant Coatue Management, stated at the New York cryptocurrency summit that although investors may have been deterred by Bitcoin’s early volatility, its volatility has decreased over time, which means the cost of investing in Bitcoin is dropping. The acceptance of Bitcoin by institutional investors is also a sign of the cryptocurrency’s maturation. In addition, the number of Bitcoin wallets that have held cryptocurrency for at least a month and then sold all their holdings has dropped significantly, indicating that investors are holding cryptocurrencies for the long term rather than trading them. Of course, at this stage, Bitcoin still accounts for only a small proportion of global net assets (about $2 trillion out of $500 trillion). If Bitcoin is to be regarded by more people as a store of value, it must become a more central asset in investment portfolios. For investors who value Bitcoin, Philippe Laffont advises not to let Bitcoin occupy too large a proportion of the portfolio to the extent that it becomes the driving factor of the entire portfolio.