Coinbase CEO Brian Armstrong Reveals He Considered Mirroring Michael Saylor's Bitcoin-Buying Strategy

Coinbase CEO Brian Armstrong has opened up about internal discussions at the crypto exchange regarding a more leveraged strategy for investing in Bitcoin (BTC).

During a recent live Q&A session on X, formerly Twitter, Armstrong was asked by a user about the possibility of Coinbase deploying more of its balance sheet into crypto assets.

In response, the 42-year-old billionaire disclosed that there were times, especially during the early years of Coinbase, where executives considered allocating a significant portion of the balance sheet into crypto.

“There were definitely moments over the last 12 years where we thought, man, should we put 80% of our balance sheet into crypto — into Bitcoin specifically,” Armstrong revealed.

However, he explained that such a move would have placed too much financial risk on Coinbase during its startup phase.

While discussing the company’s current balance sheet, Armstrong added that Coinbase still holds $1.3 billion in crypto, primarily Bitcoin.

This was further illuminated by Coinbase’s CFO Alesia Haas, who also participated in the Q&A session. She explained that Coinbase’s aim is to support its customers in their crypto investments, not compete with them.

Haas’s comments come as Saylor’s company continues to accumulate more Bitcoin.

Recently, Strategy (formerly MicroStrategy) disclosed that it has poured over $1.42 billion into expanding its Bitcoin holdings.

According to a recent SEC filing, the firm purchased 15,355 BTC at an average price of $92,737. This brings Strategy’s total Bitcoin holdings to 553,555 BTC, which amounts to roughly 2.5% of the total Bitcoin supply.

Moreover, Strategy is now anticipating that it will own 691,249 BTC by the end of 2025. This is an increase from the prior estimate of 601,029 BTC.

Saylor also addressed concerns regarding Bitcoin’s volatility and the broader crypto market downturn.

Despite the bear market, Saylor claims that over 70 publicly traded companies are now engaging in the “digital gold rush.”

For instance, logistics firm Freight Technologies (NYSE: FTCH) recently announced a $20 million investment from an institutional investor.

The investment will go towards expanding Freight Technologies’s presence in the less-than-truckload (LTL) industry and its technology platform. As part of the agreement, Freight Technologies will also invest $10 million in a joint venture with the institutional investor to trade cryptocurrencies.

However, instead of investing in Bitcoin, the institutional investor selected investing in Official Trump (TRUMP) memecoins.

Several analysts remain bullish on the Bitcoin-reserve model, which is being adopted by firms like Twenty One Capital and Strive Enterprises, who are emulating Strategy’s strategy.

Some analysts see huge stock surges in the coming months as several companies continue to boost their Bitcoin stashes. For instance, Next Technology Holding (HONG KONG:6880.HK) stock price soared over 700% after the company announced plans to increase its Bitcoin holdings.