Coinbase Rejects Saylor-Style Bitcoin Strategy To Avoid Exchange Risks


#Coinbase considered adopting a Michael Saylor-style $BTC investment strategy several times since 2012 but opted against it each time.


CEO Brian Armstrong revealed the exchange feared putting 80% of its balance sheet into Bitcoin could have risked the company's cash position.


CFO Alesia Haas added that Coinbase didn't want to compete directly with customers over which #cryptocurrencies would outperform.


The exchange currently holds 9,480 BTC worth $988 million, making it the ninth-largest corporate Bitcoin holder.


Coinbase recently expanded its derivatives offerings by acquiring Deribit for $2.9 billion, the industry's largest corporate acquisition to date.

image
May 12, 2025 at 12:04 AM
10