Coinbase Strategist: Bitcoin Has Survived “6 of These Cycles” in 15 Years and “Over 40 Countries” Hold Bitcoin

Thomas Richmond

Tue, June 30, 2026 astatine 11:28 AM CDT 3 min read

Quick Read

• COIN posted $1.41B successful Q1 revenue, a 30% decline, and logged its 13th consecutive 4th of affirmative adjusted EBITDA.

• D'Agostino claims implicit 40 countries person committed to holding bitcoin connected their nationalist equilibrium sheets, citing rising sovereign adoption.

• D'Agostino says bitcoin has survived six large cycles successful 15 years, each clip carving a higher debased earlier reaching a caller all-time high.

• Act now: the expert who called NVIDIA successful 2010 conscionable named his apical 10 AI stocks — and Coinbase didn't marque the cut. Grab the names FREE today.

Coinbase (NASDAQ:COIN) Head of Institutional Strategy John D'Agostino utilized a caller CNBC Squawk Box quality to propulsion backmost connected the question of skepticism that has followed a brutal agelong for crypto prices. His halfway statement is that Bitcoin has already survived six large boom-and-bust cycles, making today's downturn look much similar past repeating than a fundamentally caller problem.

Why D'Agostino Thinks This Cycle Is Different From the Headlines

According to D'Agostino, implicit the past 15 years, Bitcoin has gone done roughly six large cycles, and successful each 1 the plus has carved retired a caller higher debased earlier yet reaching a caller higher precocious erstwhile "retail panic" subsides. He told viewers that skeptics are "recycling the aforesaid arguments" they person made for years, and that Bitcoin presently trades astatine astir 2.5 times the level wherever bears declared triumph successful the erstwhile cycle.

His connection to investors who bought adjacent caller peaks was patience, connected the presumption that past shows panic-sellers astatine cyclical lows person tended to suffer out. His presumption is that the existent selloff resembles erstwhile Bitcoin cycles that yet gave mode to caller highs.

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Why He Compares Bitcoin to Gold, Rather Than Cash-Flowing Assets

D'Agostino argued that bitcoin meets the classical characteristics of money, listing it arsenic scarce, durable, portable, verifiable, and accepted. He compared it to golden arsenic a store of worth that defies accepted discounted currency travel valuation, a cardinal reason, successful his view, that accepted equity-style terms targets miss the point. D'Agostino's model differs from the mode investors typically worth stocks, arsenic helium views Bitcoin alternatively arsenic a store of value.

Signs Bitcoin Is Going Mainstream

D'Agostino pointed to respective examples of Bitcoin's increasing adoption:

• Coinbase precocious facilitated the first stablecoin-based payment for autarkic journalists, condensing colony from 90 days to 1 day.

• He claimed over 40 countries have committed to buying Bitcoin "in immoderate fashion" for their nationalist equilibrium sheets.

• He said the "virality of that compute network" makes Bitcoin hard to unwind successful the abbreviated term.