The CEO of the largest digital assets exchange in the US reportedly says that Coinbase has investigated the majority of its cash reserve in Bitcoin (BTC).
Brian Armstrong out That Coinbase previously considered the idea of hiring the same crypto investment strategy that is taken by Bitcoin Bull Michael Saylor, Bloomberg reports.
“There were absolutely moments in the last 12 years where we thought, male, we have to place 80% of our balance in crypto – specifically in Bitcoin.”
But Coinbase finally decided against the idea, because it could jeopardize the company’s cash position as a startup and even cause its downfall.
“We have made a conscious choice about risks.”
Coinbase CFO Alesia Haas supports the move and explains that the company does not want to look like the Bitcoin is in stock in competition with its own customers.
While the crypto -exchange left its huge Bitcoin -accumulation plan, is the latest shareholders’ letter to show that the company Spent $ 153 million in the first quarter of this year to collect digital assets, usually in Bitcoin. The company now has $ 1.3 billion in crypto.
Haas says,
“Rest assured, we don’t stop there.”
According to Coinbase, it has set up a huge crypto -troove to meet the needs of legal capital, to support the growing use and to strengthen the use of the company in the digital assets industry.
At the time of writing, Bitcoin acts for $ 103,935.
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