Bitcoin At A Discount? Coinbase Exec Says Institutions And Govts Are Buying
Coinbase institutional strategy head John D’Agostino said large Bitcoin buyers are not abandoning the market after BTC fell below $60,000. On CNBC, he said institutional investors, family offices and sovereign-linked funds are viewing the decline as a chance to accumulate more at lower prices rather than exit positions. He emphasized that the market’s infrastructure is stronger than in past pullbacks, pointing to growing institutional “piping” and about $100 billion in Bitcoin ETF exposure as signs that demand remains intact. He attributed the selloff to broader macro pressures such as risk-off positioning, higher rates, and uncertainty around regulation, but argued that volatility is normal for long-duration assets. D’Agostino also said he does not see major institutional holders as dangerously overleveraged, unlike some retail trading venues. Overall, he said institutional panic is not showing up and that many allocators still see Bitcoin as a long-term asset.
