Brian Armstrong, CEO of Coinbase, revealed that the company is consistently purchasing Bitcoin every week.
He also encouraged his followers to take a long-term position on the leading cryptocurrency as it edges closer to setting a new all-time high.
Recent figures show that Coinbase now ranks as the 10th-largest corporate Bitcoin holder, with its holdings currently valued at approximately $995 million.
As per CoinGecko, Bitcoin is trading around $107,363.
In a now-erased tweet from ten years ago, Brian Armstrong dismissed altcoins like XRP and Stellar (XLM) as mere “distractions,” asserting that Bitcoin was “miles ahead” of the rest. However, he eventually moved away from that staunchly maximalist stance.
When Coinbase launched in 2012, its operations centered solely around Bitcoin, despite the early presence of alternative digital currencies.
That changed in 2016 when the exchange added support for Ethereum (ETH)—a notable departure from its original Bitcoin-focused foundation.
By 2018, Coinbase expanded further by integrating ERC-20 tokens, marking a turning point that saw nearly 100 new tokens listed during the height of the bull run.
This shift triggered ongoing backlash from Bitcoin purists, who frequently criticize both Armstrong and the platform for chasing hype-driven listings at the expense of maintaining a primary focus on Bitcoin.
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