Bloomberg reports, Queen Base allegedly considered the adoption of Michael Seller’s strategy on several occasions, such as Bitcoin Investment Playbok, but every time he decided against the fear that he would abolish the firm’s crypto exchange.
“There have been a few moments in the last 12 years, where we thought we would put 80 % of our balance sheet in Crypto, especially in Bitcoin,” Queen Base CEO CEO Brian Armstrong told Bloomberg in a May 9 video call.
Armstrong said BitCoin (BTC) strategy could endanger the company’s cash position and potentially kill the Crypto Exchange. He added, “We made a conscious choice about the danger.
Alicia Haas, chief financial officer of the Queen Base, who also participated in the video call, added that the firm does not want to be seen as a direct competition against its users, which will improve crypto currencies.
Haas said, “Assure, we’re not stopping there,” Haas said, because the Coin Base reported the purchase of another $ 153 million crypto assets in its first quarter results on May 8, which was primarily focused in BitCoin.
According to Bit Quintereys.net, Coin Base has 9,480 bit coin – which is worth 8988 million at current market prices – which makes it a majority of its $ 1.3 billion crypto assets.
Armstrong’s Crypto Exchange is the ninth largest corporate butt coin holder, leaving the strategy, Bitcoin Minor Mara Holdings and Tesla’s choice.
Related: Last week stole $ 45 million from Coin Base Consumers – Zach XBT
Several companies have begun copying the Ceiler’s Bitcoin Playbok, financing the stock by stock and selling loans on the condition that the definition of BitCoin’s price will increase their share prices.
More than 100 government companies have now reported the holding of bitcoin worldwide, while 40 more exchange trade funders, 26 private firms and 12 national states have also reported the conduct of cryptocurrency.
Coinbase deepes derivatives by derivative pursuit
On May 8, the Coin Base agreed to get the crypto derivative platform darbits at 9 2.9 billion, indicating the industry’s largest corporate acquisition to date.
This acquisition will greatly expand the image of the Coin Base in the Crypto derivative market, which was previously limited to its Bermuda -based platform.
The Coin Base noted that Deribat provided more than $ 1 trillion in trade volume in 2024 and has about $ 30 billion of current open interest.
The firm said the agreement now makes the Coin Base a “global leader” in the crypto derivative trade.
Magazine: Crypto wanted to finish banks, now it is becoming in the Stubbone Fight
