Coinbase CEO: He considered adopting Michael Saylor's Bitcoin purchase strategy, but the risk was too high and he gave up

PANews May 10th news, according to Bloomberg, Coinbase has considered adopting a Bitcoin purchasing strategy promoted by Michael Saylor in the past, but believes that the plan is too risky. "We did have such moments over the past 12 years, whether we should put 80% of our assets into cryptocurrency—particularly Bitcoin,” Coinbase CEO Brian Armstrong said in a video speech on X Social Network. Coinbase finally decided to abandon the strategy because it could damage the company's cash position as a startup and could even "suffer" the San Francisco-based company. Still, Coinbase bought $153 million worth of cryptocurrency (mainly Bitcoin) in the first quarter, according to the company's latest shareholder letter. According to the letter, the company holds $1.3 billion worth of cryptocurrency (mainly Bitcoin) as an investment. Coinbase Chief Financial Officer Alesia Haas said the company does not want to be seen competing with clients investing in cryptocurrencies.