Coinbase CEO Brian Armstrong confirmed that his company is regularly purchasing Bitcoin while simultaneously urging followers to invest in the cryptocurrency.
Weekly Bitcoin Purchases
Brian Armstrong reported that Coinbase buys Bitcoin every week as its price approaches new highs. According to the latest report, Coinbase is the 10th largest corporate holder of Bitcoin, with assets valued at $995 million.
Armstrong's Evolving Views on Altcoins
Ten years ago, Armstrong, in a now-deleted tweet, described altcoins such as XRP and Stellar (XLM) as 'distractions,' claiming Bitcoin was significantly ahead of them. However, he later moved away from this maximalist perspective.
Coinbase's Strategy Shift and Bitcoin Maximalist Criticism
Since its launch in 2012, Coinbase initially focused solely on Bitcoin. In 2016, the platform added support for Ethereum, marking a significant pivot from a Bitcoin-only ethos. In 2018, Coinbase expanded its support to include ERC-20 tokens, drawing criticism from Bitcoin maximalists for prioritizing hype-driven listings.
Coinbase's and Brian Armstrong's stance continues to evolve, reflecting a broader shift in the cryptocurrency ecosystem where attention to altcoins is steadily increasing.
