Opening Bid Unfiltered Why everyone got bitcoin wrong, according to Coinbase
11 snips
Nov 24, 2025 
John D’Agostino, Head of Institutional Strategy at Coinbase, shares his vast experience from commodities to the crypto world. He discusses the recent bear market and the hesitations surrounding institutional interest. D'Agostino highlights key drivers behind the crypto sell-off, the importance of market structure, and offers retail investors valuable advice on consistency and dollar cost averaging. Looking ahead, he shares insights on potential catalysts for 2026, including regulatory clarity, and envisions Bitcoin as a vital store of value for the future.
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From Trading Floor To Crypto Strategy
- John D’Agostino described moving from commodities floors to teaching at MIT and writing a paper on the DAO hack.
- That paper and his hedge fund stint led to a phone call from Polychain and later Coinbase.
Commodities Taught Calm Under Volatility
- John recalled learning market calm from commodities where volatility dwarfs crypto moves.
- He says natural gas options taught him volatility lessons that keep him composed in crypto.
Volatility Isn’t The Same As Risk
- Volatility is not the same as risk; it's a component of it, says John D’Agostino.
- He argues a volatile asset that trends up can be preferable to a stable asset that trends down.