Coinbase CEO Brian Armstrong revealed that the company once debated copying Michael Saylor’s aggressive Bitcoin-buying strategy.

The 42-year-old billionaire, during a live Q&A session via X on May 9, discussed details regarding Coinbase’s balance sheet. While Armstrong considered putting most of the balance sheet into crypto, he ultimately chose a more cautious path.

“There were definitely moments over the last 12 years where we thought, man, should we put 80% of our balance sheet into crypto — into Bitcoin specifically,” Armstrong said.

Such a move could’ve jeopardized Coinbase’s early financial stability, he explained. While the exchange still holds $1.3 billion in crypto, mainly Bitcoin (BTC), CFO Alesia Haas — who also participated in the Q&A — emphasized they aim to support customers, not compete with them.

Meanwhile, Saylor continues to scoop up Bitcoin and fill MicroStrategy’s coffers.

Recently, the company spent over $1.42 billion on 15,355 BTC, with an average price of $92,737 per Bitcoin. MicroStrategy, now going as “Strategy,” boasts total Bitcoin holdings of 553,555 BTC. That’s about 2.5% of the total supply.

It’s expected to end 2025 with 691,249 BTC, up from a prior estimate of 601,029.

In an earnings call on May 1, Saylor addressed Bitcoin’s volatility concerns directly and claimed that over 70 publicly traded companies are participating in the so-called “digital gold rush.”

For example, logistics firm Freight Technologies recently struck a $20 million deal with an institutional investor to purchase cryptocurrency — but opted for Official Trump (TRUMP) memecoins over Bitcoin.

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Author: Anthony Patrick