Coinbase Decided Following Strategy's Bitcoin Reserve Playbook ‘Too Risky’: CEO

From decrypt.co

Coinbase CEO Brian Armstrong has revealed that the crypto exchange considered putting 80% of its balance sheet into Bitcoin—but decided against it over fears it could "kill the company." During a question-and-answer session with customers, executives were asked whether they missed an opportunity to start amassing BTC sooner, given the company had an eight-year headstart on software firm Strategy. Armstrong argued that Bitcoin's volatility meant an aggressive approach would have been too risky, especially in Coinbase's early days when key milestones needed to be reached to unlock additional funding rounds. "If our ... (full story)