Coinbase’s D’Agostino: Governments and Family Offices Are ‘Happy’ to Buy Bitcoin at a Discount

Why Institutions Aren’t Flinching astatine Sub-$60K Bitcoin

As bitcoin tumbled toward its lowest levels of the year, John D’Agostino, Coinbase’s caput of organization strategy, offered a counter-narrative to the doom. Speaking connected CNBC’s “Squawk Box,” helium said the deep-pocketed investors gathering semipermanent bitcoin positions are not rattled by the drawdown (if anything, they invited it), adding:

“The household offices and the authorities and sovereign funds that are putting the effort into buying this plus people are not unhappy astatine being capable to buy it astatine a discount.”

D’Agostino’s halfway constituent is that condemnation buyers measurement worth otherwise than traders chasing momentum. Institutions that were consenting to accumulate bitcoin astatine $100,000 and $125,000, helium argued, are even much funny around the $60,000 level.

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The Coinbase strategist tied his comments to firsthand observations from a caller travel to the Middle East. He said household offices successful the United Arab Emirates, on with authorities and sovereign wealthiness funds, person been actively purchasing bitcoin astatine existent valuations. Far from retreating during the selloff, these buyers person treated the discount arsenic an accidental to adhd exposure.

The presumption tracks with reporting that Bitcoin.com News has covered earlier arsenic D’Agostino has repeatedly described sovereign wealthiness funds betting connected bitcoin arsenic a gold alternative, positioning the plus arsenic a long-duration store of worth alternatively than a speculative trade. That thesis got a factual information constituent precocious erstwhile Luxembourg’s sovereign fund took a historical measurement into bitcoin exchange-traded funds (ETFs), becoming 1 of the archetypal Eurozone authorities funds to bash so.

A Selloff That Tested Conviction

D’Agostino’s optimism comes against a genuinely hard backdrop fixed bitcoin slid to a 2026 debased of $59,100 past week dragging the broader market’s full capitalization beneath $2.1 trillion for the archetypal clip successful years. Not lone that, adjacent the crypto fearfulness and greed scale dipped to an “extreme fear” speechmaking of 8 yesterday (recovering somewhat by 2 points implicit the past 24 hours).

Yet D’Agostino argued that the ETF representation is much resilient than the outflow headlines suggest, pointing to continued concern successful marketplace infrastructure and a basal of semipermanent holders that has not rushed for the exits. The favoritism helium draws is betwixt accelerated money, i.e. leveraged traders forced retired during liquidation cascades, and the diligent organization superior that tends to accumulate softly erstwhile prices fall.

In sum, the thesis is that bitcoin is maturing into a macro plus and blase allocators are treating drawdowns specified arsenic the 1 being witnessed present arsenic buying opportunities alternatively than reasons to flee.

What to Watch From Here

Skeptics enactment that a Coinbase enforcement has an evident involvement successful projecting organization confidence, and that anecdotes astir sovereign buyers are hard to verify successful existent time. Onchain and ETF travel information implicit the coming weeks volition amusement whether the discount buying D’Agostino describes is wide capable to enactment a level nether prices.

If governments and household offices are so accumulating adjacent multi-month lows, that request could softly sorb the proviso hitting the marketplace from forced sellers and tense ETF holders. The adjacent limb of the communicative volition beryllium written successful the travel data!