Coinbase · Bitcoin · Strategy · The Block
Coinbase strategist says institutions aren’t panicking about bitcoin, ‘love it even more’ at lower prices
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Bitcoin's latest slide that saw it briefly dip below $60,000 on Friday has done little to shake institutional conviction, according to Coinbase Head of Institutional Strategy John D'Agostino, who said many large investors are using the downturn as an opportunity to accumulate.
Key facts
- Bitcoin dropped as low as $59,200 on Friday for the first time since October 2024 in its latest slide that has seen (BTC) lose roughly 50% from its October 2025 high of over $126,000
- Bitcoin's latest slide that saw it briefly dip below $60,000 on Friday has done little to shake institutional conviction, according to Coinbase Head of Institutional Strategy John D'Agostino
- We're still at about $100 billion of bitcoin ETF exposure," he said
- His comments echoed a note from Bernstein analysts published Monday, which described bitcoin's downturn as a " boring cycle " and said the asset's long-term store-of-value thesis remains intact
Summary
Speaking on CNBC's Squawk Box segment on Monday, D'Agostino said family offices and sovereign wealth funds are continuing to buy at a discount. "I can tell you that the family offices and the government and sovereign funds that are putting the effort into buying this asset class are not unhappy at being able to buy it at a discount," D'Agostino said. Bitcoin dropped as low as $59,200 on Friday for the first time since October 2024 in its latest slide that has seen (BTC) lose roughly 50% from its October 2025 high of over $126,000. Despite the weakness, D'Agostino argued that institutional sentiment is still strong, pointing to continued investments in market infrastructure and resilient ETF ownership.