Coinbase internally considered a 'Bitcoin-focused purchase strategy' multiple times but ultimately decided not to execute it.

Nasdaq-listed cryptocurrency exchange Coinbase had internally considered a "Bitcoin-focused purchase strategy," investing 80% of its assets in the cryptocurrency multiple times, but ultimately decided not to execute it.

CEO Brian Armstrong revealed this during an interview with Bloomberg on the 10th (local time). When asked if Coinbase had plans to invest heavily in Bitcoin, he responded, "We have repeatedly pondered whether we should allocate 80% of our assets to Bitcoin and invest in a limited number of other cryptocurrencies."

He continued, "However, we determined that this could be detrimental to our cash position and the exchange business itself. This strategy would also not be suitable for our customers."

CFO Alesia Haas, who was present at the interview, added, "We did not want to appear as if we were directly competing with customers for specific cryptocurrencies. Investment concentration does not benefit the business."

Coinbase had previously disclosed that it purchased cryptocurrencies valued at $153 million in the first quarter of this year, with a significant portion dedicated to Bitcoin. As of the end of March, the company held 9,480 Bitcoins, which, at the current market price, amounts to approximately $988 million.

This places Coinbase among the top ten companies globally in terms of cryptocurrency holdings. Among publicly listed companies worldwide, only MicroStrategy, with Bitcoin holdings of over $11 billion, and BlackRock, with approximately $4.3 billion in cryptocurrency assets, exceed Coinbase.

The company's total cryptocurrency holdings, including Ethereum and other altcoins, come to $1.3 billion, ranking ninth among public companies.

Some traditional companies are now mimicking the Bitcoin strategy used by crypto companies to raise funds and invest heavily in Bitcoin.

Companies are adopting a strategy of first raising funds through stock and bond issuance to invest in Bitcoin, aiming for a rebound in stock prices following a price increase in Bitcoin.

Companies like Tesla and Alphabet have already begun selling stocks and bonds to invest in Bitcoin, while companies like Nvidia and Advanced Micro Devices (AMD) are planning to issue bonds for this purpose.

The number of companies holding Bitcoin is also steadily increasing. It is currently estimated that over 100 publicly listed companies, 40 ETF issuers, 26 private companies, and 12 national governments officially hold Bitcoin worldwide.