Speaking at Coinbase’s State of Crypto Summit in New York, Coatue Management founder Philippe Laffont said Bitcoin’s increasingly consistent volatility and institutional interest are making it a more central asset in investment portfolios.

According to Laffont, despite Bitcoin’s 13% increase so far in 2025, its volatility has decreased significantly compared to previous years. BTC’s sharp price swings have caused Coatue to avoid investing in the past. But that’s changing now. “The cost of entry into Bitcoin may be decreasing. If beta is decreasing, that would be really interesting,” Laffont said, noting that Bitcoin’s beta, a measure of volatility relative to the market, has decreased over time.