Coinbase reportedly considered to be adopting a Bitcoin investment playbook as Michael Saylor’s approach on many occasions, but decided against it every time it was fearless that it would kill the company’s crypto exchange, Bloomberg reported.
“There are certain moments in the past 12 years in which we thought, man, we should put 80% of our crypto balance sheet – in particular Bitcoin,” COO of Coinbase Brian Armstrong said Bloomberg on a video call of May 9.
Armstrong says that bitcoin (Btc) The approach can risk the company’s cash position and potentially kill the crypto exchange. “We made a Malay -tao choice about risk,” he added.
Financial Coinbase leader Alesia Haas, who also attended the video call, added that the firm does not want to be seen as directly competing against its customers where cryptocurrencies will exceed.
“Sure, we don’t stop there,” says Haas, as Coinbase reported to buy another $ 153 million worth of crypto assets in his first quarter statement on May 8, which is primarily concentrated in Bitcoin.
According to Bitcointreasuries.netCoinbase holds 9,480 Bitcoin – costs $ 988 million in current market prices – making up most of the $ 1.3 billion of crypto assets.
Armstrong’s Crypto Exchange is the ninth of the Bitcoin Corporate Largest Corporate, which undergoes the likes of Approach, approach, Bitcoin Miner Mara Holdings and Tesla.
Related: $ 45 million stolen from coinbase users last week – Zachxbt
Many companies have begun to copy the Bitcoin playbook of Saylor, funding purchases through stock sales and stakes debt that appreciation for bitcoin prices will boost their sharing prices.
More than 100 public companies have reportedly held Bitcoin worldwide, while another 40 exchanged exchange funds, 26 private companies and 12 states of the country have also reported holding cryptocurrency.
Coinbase deepens derivative offerings by obtaining a derivit
On May 8, Coinbase agreed to get The Crypto derivatives platform has dedicated $ 2.9 billion, which has marked the largest corporate acquisition of the industry to the present.
Acquisition will expand the trace of coinbase to Crypto derivatives market Obviously, previously limited to the Bermuda -based platform.
Coinbase noted that deribit facilitated more than $ 1 trillion in Volume of trade in 2024 and had nearly $ 30 billion of current open interest.
The Coinbase “Global Leader” is now dealing with the Crypto derivatives trade, the firm said.
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