Coinbase Unveils MicroStrategy-Style Cryptocurrency Investment Policy

Coinbase Unveils MicroStrategy-Style Cryptocurrency Investment Policy

Coinbase, the top cryptocurrency exchange in the U.S., has announced that it's going to put a whopping $500 million worth of cash and cash equivalents into a diverse basket of cryptocurrency assets.In its blog post, the company specifies that it intends to invest in Ethereum, Bitcoin, proof-of-stake cryptocurrencies and tokens from the decentralized finance ecosystem.Apart from the aforementioned $500 million, the exchange will be allocating 10 percent of its net earnings.Considering that the company reported a net income of $1.61 billion in the second quarter of 2021, the company could potentially hold billions of dollars worth of crypto on its balance sheet within the next several years.

Hopefully over time we can operate more of our business in crypto - today it is still a mix.— Brian Armstrong (@brian_armstrong) August 19, 2021

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