Coinbase management denies adopting a similar "bitcoin reserve strategy"

Coinbase has bitcoin on its balance sheet, but management wants to make it clear that the company will not take the Michael Saylor/Strategy approach. Data shows that Coinbase recently purchased $150 million worth of cryptocurrencies, primarily bitcoin, increasing its portfolio to $1.30 billion. Unlike some companies, Coinbase does not tie its holdings to a bitcoin strategy, but instead reinvests profits in a broader range of cryptoassets. CEO Brian Armstrong specifically emphasized that Coinbase's holding of bitcoin support reflects a long-term commitment to the cryptocurrency space.