Coinbase’s CEO Brian Armstrong has recently disclosed that the company once considered adopting Michael Saylor’s aggressive approach to Bitcoin acquisition. During a live Q&A session on May 9, Armstrong reflected on Coinbase’s financial strategy, revealing that there were discussions about potentially allocating a significant portion—up to 80%—of their balance sheet to Bitcoin.
Although the idea was enticing, Armstrong ultimately opted for a more conservative approach to ensure Coinbase’s financial stability. Currently, the exchange holds approximately $1.3 billion in cryptocurrency, primarily Bitcoin. CFO Alesia Haas, who joined the Q&A session, reinforced the company’s commitment to supporting its customers rather than competing with them.
Meanwhile, Michael Saylor continues to expand MicroStrategy’s Bitcoin holdings aggressively. The company recently invested over $1.42 billion to acquire 15,355 BTC at an average price of $92,737 each. MicroStrategy’s total Bitcoin holdings now stand at 553,555 BTC, representing about 2.5% of the total Bitcoin supply. The firm anticipates building its stash to 691,249 BTC by the end of 2025, significantly higher than previous projections.
In a recent earnings call, Saylor emphasized his confidence in Bitcoin, addressing the cryptocurrency’s volatility and announcing that over 70 publicly traded companies are now joining the burgeoning “digital gold rush.” Interestingly, firms like Freight Technologies are exploring crypto investments, but some, like them, are opting for alternatives like Official Trump memecoins rather than Bitcoin.
As the Bitcoin-reserve model gains popularity, firms such as Twenty One Capital and Strive Enterprises are beginning to emulate Saylor’s investment strategy, spurring optimism in the market. Additionally, companies like Next Technology Holding have experienced significant stock increases, such as a staggering 700% jump after enhancing their Bitcoin reserves.
This trend suggests a growing acceptance and optimism surrounding cryptocurrency investments among major corporations, which could signal a shift in the financial landscape in the coming years.