Coinbase reportedly considered accepting the Bitcoin investment hop, such as Michael Saylor’s strategy many times, but decided that she was not afraid every time that she would kill the company’s cryptographic exchange, Bloomberg informed.
“There were definitely moments in the last 12 years, when we thought, man, we should put 80% of our balance in Krypto – in particular to Bitcoin,” Brian Armstrong, Coinbase general director he said Bloomberg in a video interview of May 9.
Armstrong said that the Bitcoin (BTC) strategy could risk the company’s cash position and potentially killed the cryptographic exchange. “We made a conscious choice of risk,” he added.
Financial Director of Coinbase, Alesia Haas, who also participated in a video conversation, added that the company did not want to be seen directly as competing with clients over whom cryptocurrencies would be lower.
“We assure you that we do not stop at it,” said Haas, because Coinbase reported the purchase of cryptocurrency assets worth another $ 153 million in a statement from the results of the first quarter of May 8, which was primarily focused in bitcoins.
According to Bitcointreasuries.netCoinbase has 9480 bitcoins – worth $ 988 million at current market prices – which is the majority of $ 1.3 billion cryptocurrency assets.
Armstrong cryptographic exchange is the ninth largest corporate owner of Bitcoins, following the strategy, Bitcoin Miner Mara Holdings and Tesla.
Related: $ 45 million stolen from Coinbase users last week – ZachxBT
Several companies have started copying the Saylor’s Bitcoin textbook, financing purchases through the sale of shares and debts for the plant that recognizing Bitcoin prices will escalate their share prices.
Over 100 public companies have now reported Bitcoins around the world, while another 40 issuers of stock exchange funds, 26 private companies and 12 national states have also reported cryptocurrency.
Coinbase deepens derivative offers through Neribit acquisition
On May 8, Coinbase agreed to take over the cryptocurrency platform derivatives for $ 2.9 billion, meaning the largest corporate acquisition in the industry.
The takeover will be hugely expanded by the Coinbase trail on the market of cryptographic derivatives, which was previously constrained to the platform in Bermuda.
Coinbase noticed that Deribit has facilitated the volume of turnover in the amount of over $ 1 trillion in 2024 and has about $ 30 billion of current open interest.
The company said that the contract makes Coinbase a “global leader” of trade in cryptographic derivatives.
Warehouse: Crypto wanted to overthrow the banks, now they are becoming stablein’s fight
