Coinbase CEO: I considered adopting Michael Saylor’s Bitcoin investment strategy, but ultimately did not adopt it because the risk was too high

Odaily News Coinbase had considered adopting the Bitcoin buying strategy popularized by Michael Saylor in the past, but decided the plan was too risky. "We did have moments over the last 12 years where we wondered if we should put 80% of our assets in cryptocurrencies - specifically Bitcoin," Coinbase CEO Brian Armstrong said in a video address on the X social network. Coinbase ultimately decided against the strategy because it could have hurt the company's cash position as a startup and could have even "killed" the San Francisco-based company. Nonetheless, according to the company's latest shareholder letter, Coinbase purchased $153 million worth of cryptocurrencies (mostly Bitcoin) in the first quarter. According to the letter, the company holds $1.3 billion worth of cryptocurrencies (mostly Bitcoin) as investments. (Bloomberg)