Coinbase CEO Brian Armstrong revealed that the firm explored the idea of adopting a Bitcoin investment strategy similar to that of Michael Saylor on several occasions over the past 12 years. However, they ultimately opted against it due to concerns that such a move could jeopardize the company's cash position and ultimately harm its exchange operations. Armstrong noted that they carefully considered the risks involved. Coinbase's Chief Financial Officer, Alesia Haas, added that the company did not want to be seen as competing with its own customers regarding which cryptocurrencies might outperform others. Despite not adopting the strategy, Coinbase continues to invest in crypto assets, holding 9,480 Bitcoin valued at approximately $988 million, making it the ninth-largest corporate Bitcoin holder. In a notable move, Coinbase recently acquired the crypto derivatives platform Deribit for $2.9 billion, significantly expanding its presence in the crypto derivatives market and establishing itself as a leader in that sector.

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