Coinbase Opts for $153M Crypto Investment Over MicroStrategy’s High-Risk Bitcoin Strategy
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Coinbase Global Inc. considered adopting a Bitcoin investment strategy similar to that of MicroStrategy Inc., led by Michael Saylor, which involves allocating a significant portion of the company’s balance sheet into Bitcoin. However, Coinbase ultimately decided against this approach, citing the high risk associated with such a strategy for a startup. Coinbase CEO Brian Armstrong revealed that there were moments over the past 12 years when the company contemplated putting 80% of its balance sheet into Bitcoin, but deemed it too risky. Despite not adopting Saylor’s strategy, Coinbase has still invested in cryptocurrencies, with a reported acquisition of $153 million in various digital assets, primarily Bitcoin. This move indicates Coinbase’s belief in the potential of cryptocurrencies as an investment, albeit at a more conservative level than what was initially considered. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io
Source: The Defiant
