Brian Armstrong, CEO of Coinbase, reaffirmed his bullish stance on Bitcoin as the cryptocurrency approaches a new all-time high.
Support for Bitcoin from Coinbase
Armstrong noted that the company is buying Bitcoin every week, signaling long-term confidence in this digital asset. Currently, Bitcoin is trading at about $107,363, increasing interest from investors.
Coinbase's Development and Altcoin Support
From its inception, Coinbase has undergone changes in its approach to supporting cryptocurrencies. Initially focused solely on Bitcoin, the company now supports a variety of altcoins, leading to criticism from some Bitcoin supporters.
Bitcoin as a Strategic Asset
With increasing Bitcoin reserves and Armstrong's new public support, Coinbase is reassessing its strategy. The rising status of the company among corporate holders indicates a commitment to Bitcoin as a long-term asset.
Coinbase's support for Bitcoin and the growing reserves of the cryptocurrency could reflect a positive shift in the attitude towards this digital asset, highlighting its significance in the market.
