Coinbase has considered emulating MicroStrategy in hoarding Bitcoin on multiple occasions, but ultimately abandoned the idea due to potential risks

Blockbeats
12小時前

BlockBeats News, May 10th, the largest cryptocurrency exchange in the United States, Coinbase Global Inc., once considered emulating Michael Saylor's large-scale Bitcoin purchase strategy but ultimately deemed the plan too risky and abandoned it. Brian Armstrong, co-founder and CEO of the company, revealed in a video conversation on the X social platform on Friday: "Over the past 12 years, we have indeed considered multiple times whether to allocate 80% of our balance sheet to cryptocurrency—especially Bitcoin."

Brian Armstrong stated that Coinbase ultimately rejected this risky plan because as a startup, it could deplete its cash reserves and even lead to the "sudden death" of the San Francisco-based company. However, according to the latest shareholder letter released on Thursday, Coinbase purchased $153 million worth of cryptocurrency (mostly Bitcoin) for its portfolio in the first quarter. As of the reporting period, the company held $1.3 billion worth of crypto assets (mostly Bitcoin) as investments.

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