Coinbase considered following Michael Saylor's lead in buying bitcoin, but ultimately gave up due to risk

Brian Armstrong, chief executive of Coinbase, said in a video chat on the X platform: "We did have moments over the past 12 years where we wondered whether we should put 80 per cent of our balance sheet into cryptocurrencies - and bitcoin in particular." However, the company ultimately decided it was "too risky to do so" and did not adopt the aggressive bitcoin buying strategy promoted by Michael Saylor.