Despite Bitcoin’s sharp drop toward the $60,000 level, large investors are not rushing to sell. Instead, many are using the lower prices as an opportunity to buy more.
John D’Agostino, Head of Strategy at Coinbase Institutional, said family offices, sovereign wealth funds, and government-related investors continue to see Bitcoin as a long-term investment. According to him, these investors are actually becoming more interested as prices fall.
Bitcoin was trading around $63,200 on June 9, down roughly 50% from its record high of more than $126,000 reached in October 2025. While the decline has hurt market sentiment, D’Agostino believes institutional demand remains much stronger than many people realize.
He explained that large investors who spent years studying Bitcoin before entering the market are not making decisions based on daily price swings. Instead, they are taking advantage of lower prices to build their positions.
“They liked Bitcoin at higher prices, and they like it even more at today’s levels,” D’Agostino said, highlighting the confidence many institutional investors still have in the asset.
He also pointed to the nearly $100 billion still invested in spot Bitcoin exchange-traded funds (ETFs). While retail interest has weakened and ETF investors have pulled out some money, the overall level of institutional exposure remains significant.
Recent data shows that spot Bitcoin ETFs have experienced billions of dollars in outflows this year, including a 13-day streak of withdrawals. However, analysts say these outflows do not indicate a mass exit by institutional investors.
Another sign of continued confidence came from Strategy, which purchased an additional 1,550 Bitcoin between June 1 and June 7 for more than $101 million. The company now holds over 845,000 Bitcoin, making it one of the largest corporate holders in the world.
D’Agostino also dismissed concerns that major institutions are dangerously overleveraged or facing forced liquidations. He said he is not aware of any large investor that is close to being forced out of its Bitcoin position.
While risks remain, including weaker retail demand and the possibility of further price declines, current buying activity suggests that many large investors still view Bitcoin as a long-term asset rather than a short-term trade.
For now, the recent downturn appears to be testing market confidence, but it has not triggered the widespread institutional selling that many feared.
