Philippe Laffont, founder of Coatue Management, believes Bitcoin is poised for greater prominence in investment portfolios as its volatility decreases and institutional interest increases. Speaking at Coinbase’s State of Crypto Summit in New York, Laffont highlighted this trend, attributing the rise to Bitcoin’s declining volatility and growing acceptance by institutions, specifically citing BlackRock’s launch of Bitcoin ETFs. He pointed out that despite its 13% increase in 2025, Bitcoin has seen a significant decrease in price swings compared to past years. This change has caused Coatue to re-evaluate their investment strategy, with Laffont noting the potential for lower entry costs and increasing beta (a measure of volatility relative to the market). Laffont’s view is further supported by the growing acceptance of Bitcoin as a store of value, evident in the decline of coins held in wallets for at least a month being sold. He also acknowledged that Bitcoin’s share of global wealth remains relatively low, but expects it to increase in the future if people continue to believe in its value. This belief, he emphasizes, will drive higher valuation and greater prominence in portfolios.