Philippe Laffont, founder of Coatue Management, emphasized Bitcoin’s increasing stability and market appeal during the Coinbase Crypto State Summit in New York City. He highlighted Bitcoin’s reduced volatility as a key driver behind its transition into a core asset status for institutional investors. Laffont believes this shift is reflected in increased Bitcoin demand from institutions like BlackRock, who are supporting Bitcoin spot ETFs. 2020-2021 saw similar patterns of institutional acceptance for Bitcoin, and Laffont sees the current trend leading to more stable growth in the asset class. The decreased volatility allows for a clearer path towards investment strategies that mirror traditional assets such as gold.