The CEO of Coinbase, “Bitcoin Long,” reveals the weekly purchases

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Michael Saylor’s Microstrategy (Nasdaq:MstrYou may not be the only company in the week of bitcoin purchase.

“We buy more bitcoin every week”, “Nasdaq:currencyCEO Brian Armstrong He said Last week on X, adding, “long bitcoin”.

But the frequency in purchasing similarities may be in Microstrate and Coinbase. Unlike Microstrategy, Coinbase chose not to make shares to buy Bitcoin, and instead choose to use excess cash reserves.

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Interestingly, Coinbase has thought about taking a more aggressive path to the accumulation of bitcoin early in its history.

“There have definitely moments over the past 12 years, when we thought, a man, if we put 80 % of our public budget for encryption – specifically in Bitcoin,” Armstrong He said in May. However, the exchange of the leading cryptocurrency is ultimately judging the risky move for a young company.

Although the company listed in the S& P 500 menu is now the startup that was one day, it is still committed to its cautious approach.

It unveils $ 150 million in the purchase of cryptocurrencies that largely includes Bitcoin in the first quarter, Coinbase Alessia Haas overwrought In May, the company remained a “operating company”, dispelling any speculation about the Bitcoin Treasury axis.

“To be clear, we are an operating company,” Haas said. “But we are investing alongside the space.”

Coinbase reported that it has a Cryptocurrency Cryptocurrency investment portfolio of $ 1.3 billion at the end of the first quarter, representing 25 % of its net cash. In the end, bitcointreasuries.net data Show The company held 9,267 BTC at a value of about one billion dollars.

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Armstrong’s recent comments on Bitcoin’s accumulation in Coinbase came in response to message From the head of Bitcoin David Bailey, the company congratulates its cups Rise To its highest point since the first year in November 2021.

“Glory to Lreen Armstrong, who is the total G and got the right of ATH (is absolutely high),” said Billy. “Now it only needs to build a suitable bitcoin cabinet.”