Recently, there has been a growing interest from institutional investors in Bitcoin. Brian Armstrong, CEO of Coinbase, announced the company's plans to increase purchases of the cryptocurrency.
Coinbase's Increasing Bitcoin Purchases
Brian Armstrong shared on his X account that Coinbase is buying more Bitcoin every week. He noted that the company already has a Bitcoin treasury.
Support from Key Figures
Michael Saylor, CEO of MicroStrategy and one of the most notable Bitcoin proponents among institutional investors, expressed support for Armstrong's approach by adding a rocket emoji in comments.
Bitcoin Holding and Market Impact
Currently, Coinbase holds about $995 million worth of Bitcoin, making it the 10th largest institutional investor in the market. The increase in Bitcoin purchases by the company has drawn the attention of other participants in the cryptocurrency sector.
Coinbase's active Bitcoin purchases highlight the growing interest from institutional investors, which may significantly impact the market in the future.
