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.
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. "They loved it at $125,000, they liked it at $100,000, and they love it even more at $65,000."
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.
