The largest in the USA Crypto para Coinbase, the stock market, announced that he had evaluated the aggressive Bitcoin purchase strategy adopted by Michael Saylor, the founder of Microstrategy in the past, but gave up this plan because of risks.
Coinbase CEO and founding partner Brian Armstrong, Social Media Platform X, in his video speech, said, “We thought that we should invest 80 %of our balance sheet assets in Bitcoin,” he said. However, according to Armstrong, this strategy could seriously risk the company’s cash position and potentially drag Coinbase into bankruptcy. “We made a conscious choice on risk,” Armstrong said.
Although Coinbase has given up this strategy, the company has added $ 153 million crypto currency and Bitcoin to its investment portfolio in the last quarter. According to Coinbase’s latest shareholder letter, the company has a total crypto currency of $ 1.3 billion.
Speaking in the same broadcast on the X platform, Coinbase Financial Affairs Director Alesia Haas said they don’t want to compete with their customers. “We will not stop at this point, HA said Haas, the company will continue to increase crypto assets, he said.
On the other hand, many companies have begun to follow Similar strategies by taking Saylor’s model to finance Bitcoin investments with shares and debt sales. Microstrategy’s shares have gained more than 3000 %since 2020 since they started to buy Bitcoin. The company has Bitcoin worth about 54 billion dollars.
*It is not an investment advice.
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Source: https://www.bitcoinsistemi.com/coinbase-ceosundan-itiraflar-bir-donem-microstrategy-gibi-yuklu-bitcoin-satin-almayi-dusunduk-ancak/
