Key Takeaways:
- Coinbase considered but ultimately rejected a MicroStrategy-style Bitcoin investment strategy to avoid financial risk and maintain market neutrality.
- CEO Brian Armstrong and CFO Alesia Haas emphasized the importance of stability and impartiality in crypto asset allocation.
- Despite a cautious stance, Coinbase holds 9,480 BTC (~$988M), ranking it as the ninth-largest corporate Bitcoin holder.
Coinbase has considered adopting a Bitcoin-heavy investment strategy similar to Michael Saylor’s multiple times since 2012 but ultimately rejected the idea, according to Bloomberg.
CEO Brian Armstrong said the company weighed putting up to 80% of its balance sheet into Bitcoin but concluded it would pose too much financial risk and potentially harm its core exchange business.
Coinbase considered adopting a Bitcoin-heavy treasury strategy like Saylor’s over the last 12 years but ultimately passed.
— Bitcoin News (@BitcoinNewsCom) May 11, 2025
Brian Armstrong said putting 80% of their balance sheet into BTC was discussed multiple times, but rejected to avoid risking liquidity and core operations. pic.twitter.com/iUhOd4LdlW
CFO Alesia Haas added that maintaining neutrality in the crypto market was also a key reason for avoiding such a move, as holding large amounts of Bitcoin could create conflicts with customers.
Despite this cautious stance, Coinbase continues to invest in crypto assets.
Its Q1 2025 earnings report revealed a $153 million crypto purchase, primarily in Bitcoin.
The company now holds approximately 9,480 BTC, worth about $988 million, representing a significant share of its $1.3 billion in total crypto assets.
This positions Coinbase as the ninth-largest corporate Bitcoin holder globally, following companies like MicroStrategy and Tesla.
Saylor’s aggressive Bitcoin strategy has influenced more than 100 public firms, 40 ETF issuers, 26 private companies, and 12 governments to accumulate Bitcoin.
About The Author
Adam Morris, the co-founder of Crypto Head and a respected crypto expert, offers insightful commentary and analysis on cryptocurrency, NFTs, and the evolving digital landscape.
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