Coinbase says Coinbase considered a mode of 80 % of the public budget for encryption, but he decided against him: Report
It is reported that the CEO of the largest digital asset exchange in the United States says that Coinbase has explored the investment of most of its cash reserves in Bitcoin (BTC).
Brian Armstrong He says Which – which Coinbase previously considered the idea of adopting the same investment strategy that Bitco Bull Michael Saylor has taken, according to Bloomberg reports.
“There have been certain moments over the past 12 years when we thought, man, to put 80 % of our public budget for encryption – in Bitcoin, specifically.”
But Coinbase eventually decided against the idea because it could endanger the company’s monetary situation as a startup and may cause its demise.
“We have made a conscious option about the dangers.”
Coinbase CFO ALESIA Haas supports this step, explaining that the company does not want to appear as if it was Bitcoin storage in competition with its customers.
While the exchange of encryption abandoned the huge bitcoin accumulation plan, the latest shareholder of the shareholders He appears That the company It spent $ 153 million in the first quarter of this year to collect digital assets, most of which are in Bitcoin. The company now owns $ 1.3 billion of encryption.
Haas says,
“Be reassuring, we don’t stop there.”
According to Coinbase, a large group of encryption has been established to meet the needs of organizational capital, support the increasing benefit and enhance the company’s commitment to the digital asset industry.
At the time of writing this report, Bitcoin is traded at $ 103,935.
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Disclosure: The views expressed in Daily Hodl are not an investment advice. Investors must do due care before making any high -risk investments in bitcoin, cryptocurrency, or digital assets. Please note that your transfers and trading on your own responsibility, and any losses you may bear are your responsibility. Daily Hodl does not recommend buying or selling any encrypted currencies or digital assets, and Hodl Daily Andersor is an investment. Please note that the daily Hodl participates in dependent marketing.
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