According to the reports, Coinbase considered to adopt a Bitcoin investment plays book as Michael Saylor’s strategy on multiple occasions, but decided against him every time for fear that he would kill the company’s cryptography exchange, Bloomberg reported.
“There were definitely moments in the last 12 years in which we think, man, if we place 80% of our crypto balance, in Bitcoin specifically,” said the CEO of Coinbase, Brian Armstrong, to Bloomberg in a video call on May 9.
Armstrong said that Bitcoin’s strategy (BTC) could risk the company’s cash position and that he enhanced the encryption exchange. “We made a conscious decision about the risk,” he added.
The financial director of Coinbase, Alesia Haas, who also attended the video call, added that the company did not want to be seen as a direct competition against its clients on which cryptocurrencies would exceed.
“Be sure that we do not stop there,” said Haas, since Coinbase reported that he bought another $ 153 million in cryptography assets in his declaration of results of the first quarter on May 8, which concentrated mainly on Bitcoin.
According to Bitcintrease.net, Coinbase has 9,480 bitcoin, for a value of $ 988 million at current market prices, which constitutes most of its holding Cryptographic Assets of $ 1.3 billion.
Armstrong’s Exchange of Crypto is Bitcoin’s ninth corporate headline, following the strategy, Bitcoin Miner Mara Holdings and Tesla.
Related: $ 45 million stolen from coinbase users in the last week – Zachxbt
Several companies have begun to copy the Bitcoin Play Book of Saylor, financing purchases through actions and sales of debts in commitment that the appreciation of Bitcoin’s price will increase the prices of their shares.
Around 100 public companies have reported that they have Bitcoin worldwide, while another 40 issuing funds quoted in the stock market, 26 private companies and 12 national states have also reported that they have cryptocurrency.
Coinbase Depends derivatives offers through the acquisition of Delibit
On May 8, Coinbase agreed to acquire the Deribit cryptographic derivatives platform for $ 2.9 billion, marking the largest corporate acquisition in the industry to date.
The acquisition will expand the coinbase footprint in the Immune cryptography derivatives market, which had previously been limited to its Bermuda -based platform.
Coinbase said Deribit facilitated more than $ 1 billion in negotiation volume in 2024 and has about $ 30 billion of current open interest.
The agreement now makes Coinbase the “global leader” into the trade of cryptographic derivatives, the firm said.
Magazine: Crypto wanted to overthrow Banks, he is now becoming a topic in Stablecoin Fight
