Family offices, sovereign wealth funds, and government investment entities in the Middle East are among those viewing the recent correction as a chance to buy at lower prices, D’Agostino said.
He noted that institutions have spent years studying Bitcoin and tend to grow more interested as prices fall, not less.
CNBC host Joe Kernen raised several factors that may have contributed to the pullback — among them a risk-off environment, capital rotation into other assets, elevated interest rates, and slower-than-expected progress on regulatory clarity.
D’Agostino acknowledged these concerns are widely cited by market participants, but argued that price swings are normal for an asset class that behaves like a commodity.
Geopolitical Uncertainty Adds To The PressureThe improved market infrastructure and evolving regulatory framework, he added, make the current environment stronger than it was during previous downturns.
Featured image from Silas Stein/picture alliance via Getty Images, chart from TradingView
