October 5, 2022 11:22 am

Where Ted Talks end, Truth Talks begin.

Coinbase Is Buying $500 Million in Crypto and Investing Future Profits Into a Crypto Portfolio

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on pinterest
Pinterest
Share on whatsapp
WhatsApp
Share on telegram
Telegram

Where Ted Talks end, Truth Talks begin.
Defending democracy by defending free speech

Opinion pieces don’t necessarily reflect the position of our news site but of our Opinion writers.

Coinbase Is Buying $500 Million in Crypto and Investing Future Profits Into a Crypto Portfolio

By Crypto Global News

  • CEO Brian Armstrong said he hopes to operate more of the company’s operations using crypto, though it’s mixed today.
  • The company plans to invest in “Ethereum, Proof of Stake assets, DeFi tokens, and many other crypto assets supported for trading on our platform,” finance chief Alesia Haas said in a blog post.

 

Coinbase will buy $500 million in crypto on its balance sheet and allocate 10% of its quarterly profits into a crypto assets portfolio, company executives announced late Thursday.

The company plans to invest in “Ethereum, Proof of Stake assets, DeFi tokens, and many other crypto assets supported for trading on our platform,” becoming the first public company to do so, finance chief Alesia Haas said in a blog post.

CEO Brian Armstrong first revealed the brokerage’s plans in an earlier tweet, saying he expects the allocation to grow as the market matures. He also indicated the company’s ambitions to diversify its crypto services and operations, which mostly center around trading.

“Hopefully over time we can operate more of our business in crypto,” Armstrong said on Twitter. “Today it is still a mix.”

The price of bitcoin climbed higher on the news, passing $47,000 on Friday after sitting below $45,000 the previous two days. Coinbase shares rose more than 3% higher in early trading Friday.

The few companies that have included bitcoin in their holdings, like Microstrategy and Tesla (with the help of Coinbase), have done so as a hedge against inflation and potential devaluation of the U.S. dollar. On Thursday, Citi placed Microstrategy’s rating under review, suspending its price target and estimates due to its investment in bitcoin and correlation to the digital currency’s price.

The news comes a week after Palantir reported quarterly results showing it bought $50 million in physical gold to reportedly hedge against black swan events. Palantir also said it’s accepting customer payments in bitcoin, but that none have used the option.

That same week, Coinbase reported quarterly earnings and growth metrics that wowed analysts, who are mostly patient about the stock’s correlation to bitcoin’s price and volatility and optimistic about its plans to drive long-term innovation throughout the financial system.

Haas said the investments will be driven by its custodial crypto balances and deployed “over a multi-year window using a dollar cost averaging strategy.” She added that Coinbase is investing for the long term and “will only divest under select circumstances, such as an asset delisting from our platform.”

Oppenheimer’s Owen Lau said he doesn’t expect the new investment policy to lower the correlation between Coinbase and bitcoin “materially in the near future.” However, he said he sees it as a signal that Coinbase can “further facilitate and influence both retail and institutional adoption” over time by integrating cryptocurrencies into its own operations, like paying vendors and employees, for example.

The news follows a Wall Street Journal report this week that Coinbase has stockpiled $4 billion in cash to weather regulatory headwinds. Lau noted the company still has plenty of cash on hand despite the transaction.

“Share repurchases and dividends appear to be off the table at least near term, but we believe management will use excess capital to reinvest in the business and make acquisitions, especially in international presence and subscription-based business,” he added.

Opinion pieces don’t necessarily reflect the position of our news site but of our Opinion writers.

*Note We Deliberately Miss Spell Some Words or Add Capital Letters To Get Around Big Tech Censoring.

Support the ANR from as little as $50 – it only takes a minute. If you can, please consider supporting us with a regular amount each month. Thank you.

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on pinterest
Pinterest
Share on whatsapp
WhatsApp
Share on telegram
Telegram

Where Ted Talks end, Truth Talks begin.
Defending democracy by defending free speech

Subscribe for free to our ANR news emails and access 2 free ebooks plus Reports to share with family and friends about Covid fraud and the danger of the vaccines.

Help us help defend free speech and save democracy from the World Economic Forum planned Totalitarian Great Reset.

and help us expose the Covid Fraudsters

Leave a Reply

Your email address will not be published.

Play Video

McIntyre Report
Political Talk Show

How you can advertise on Truthbook.social

Jamie McIntyre
TruthBook.social Videos

Help us help defend free speech and save democracy from the World Economic Forum planned Totalitarian Great Reset.

and help us expose the Covid Fraudsters

Ukraine. Military Summary And Analysis 04.10.2022

Raw Report

Ryan Jackson Saw show

in USD

in AUD

in GBP

in CAD

Jamie McIntyre

ANR on

Currency Exchange Rates in AUD

Live and updated every minute of the day

Nurses Speak Out

Get our free News Emails on latest articles, alerts and solutions for both legal templates and ways to help fight back against the Globalists vax Mandates , and health resources to boost your immune system and ways to Protect from deadly EMF 5G radiation and more.

FREE E-BOOKS AND REPORTS ALSO

ANR Meme Report

with Nadine Roberts

Episode 002

21st Century Political System

Play Video

Editor's Pick

Thank you for visiting the
Australian National Review

To continue accessing more articles for free simply enter your email address

TruthTalks business partnership

Ideal for freedom movement activists, influencers, digital nomads, content creators and those who refuse to be silenced and want to expose the Globalists Agenda .

Truth Talks Partner Opportunity

Click here to learn more about this opportunity and how 12 online clients per year can earn you $203,000 USD per annum

Download the Full PDF - THE COVID-19 FRAUD & WAR ON HUMANITY