Coinbase考慮多次採用Michael Saylor風格的比特幣投資策略，但決定反對

Coinbase首席執行官布萊恩·阿姆斯特朗（Brian Armstrong）透露，加密交易所考慮多次採用邁克爾·塞勒（Michael Saylor）風格的比特幣投資策略，但決定反對

Coinbase CEO Brian Armstrong has revealed that the crypto exchange considered adopting a Michael Saylor-style Bitcoin investment strategy on multiple occasions — but decided against it over fears it could “kill the company.”

Coinbase首席執行官布萊恩·阿姆斯特朗（Brian Armstrong）透露，加密貨幣交易所（Crypto Exchange）考慮多次採用邁克爾·塞勒（Michael Saylor）風格的比特幣投資策略，但決定反對它，而不是擔心它會“殺死公司”。

“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 (BTC) specifically,” Armstrong said during a Q&A session with customers when asked whether they missed an opportunity to start accumulating the benchmark crypto BTC sooner, given the company had an eight-year headstart on Saylor’s Bitcoin-stacking firm Strategy.

阿姆斯特朗在與顧客的問答環節中說：“在過去的12年中，肯定有一些我們認為，我們認為，我們應該將資產負債表的80％放入比特幣（BTC）中。”

However, BTC’s inherent volatility meant a bold play would have been too risky, especially in Coinbase’s early days, when important milestones had to be reached to unlock more funding rounds.

但是，BTC固有的波動率意味著大膽的表演將太冒險了，尤其是在Coinbase的早期，必須達到重要的里程碑以解鎖更多的資金回合。

“If our runway had gone from 18 months—and suddenly it was 12 months, or 10 months — it could have just killed the company entirely,” Armstrong posited.

阿姆斯特朗假設：“如果我們的跑道從18個月開始到18個月，突然間是12個月或10個月，它可能完全殺死了公司。”

He revealed that when Coinbase was still in its infancy, executives made a “conscious choice about risk,” as a massive downturn in BTC’s price would have greatly affected the trading platform’s growth.

他透露，當Coinbase仍處於起步階段時，高管做出了“有意識的選擇”，因為BTC價格的大規模低迷將極大地影響交易平台的增長。

“We decided we didn’t want to do that, we wanted to grow the company and get to the public markets.”

“我們認為我們不想這樣做，我們想發展公司並進入公共市場。”

Still, Armstrong emphasized that Coinbase does hold Bitcoin on its balance sheet, and about 25% of its net cash is currently in cryptocurrency.

儘管如此，阿姆斯特朗還是強調，Coinbase確實在其資產負債表上持有比特幣，目前約有25％的現金淨現金處於加密貨幣。

“We’re not going to take 80%, that would be too risky, I think,” he added.

他補充說：“我認為我們不會佔80％，這太冒險了。”

Coinbase, the US’s largest crypto exchange by trading volume, currently holds 9,480 BTC, valued at around $988 million based on current market prices, according to data from BitcoinTreasuries. BTC makes up the lion’s share of its $1.3 billion crypto asset stockpile.

根據比特幣的數據，Coinbase是美國最大的加密貨幣交易所，目前持有9,480 BTC，根據當前市場價格，價值約為9.88億美元。 BTC佔據了其13億美元加密資產庫存的獅子份額。

Of course, these holdings pale in comparison to the gargantuan 568,840 BTC that Strategy currently owns, which is worth nearly $60 billion.

當然，與Gargantuan 568,840 BTC相比，這些持有的股份目前擁有的，價值近600億美元。

Several companies, including Metaplanet, MARA Holdings, and Semler Scientific, have since copied Strategy’s Bitcoin playbook, financing BTC purchases through stock and debt sales on the bet that the asset’s price surge will boost their share prices.

此後，包括Metaplanet，Mara Holdings和Semler Scientific在內的幾家公司複製了戰略的比特幣劇本，通過股票和債務銷售融資BTC融資，押注資產價格上漲將提高其股價。

Meanwhile, Coinbase is deepening its presence in the derivatives market, after recently agreeing to buy crypto derivatives exchange Deribit in a mega $2.9 billion deal.

同時，Coinbase最近同意以29億美元的交易購買加密衍生品交易所deribit之後，正在加深其在衍生品市場中的存在。