%{{tag.tag}} {{articledata.title}} {{moment(articledata.cdate)}} @{{articledata.company.replace(" ","")}} comment %Coinbase Global (NASDAQ: $COIN ) recently purchased $150 million U.S. of %Bitcoin (CRYPTO: $BTC ), bringing its total investment in the largest %Cryptocurrency to $1.30 billion U.S. However, despite adding Bitcoin to its balance sheet, Coinbase Global, which is the largest U.S. cryptocurrency exchange, says its crypto holdings are not part of a bigger strategy. Coinbase Chief Executive Officer Brian Armstrong says his company is merely investing profits back into crypto assets and the Bitcoin holdings reflect a commitment to the crypto sector. Armstrong stressed that Coinbase is not following the playbook of %Strategy (NASDAQ: $MSTR ), the former software company turned serial Bitcoin acquirer. On the company's first quarter 2025 earnings call, Coinbase’s management team revealed that the company’s Bitcoin holdings now represent 25% of net cash. Armstrong has said in recent interviews that he is not betting Coinbase’s future on Bitcoin. Rather, Coinbase is allocating profits from operations back into crypto assets, similar to how a commodities firm might accumulate raw materials. For Coinbase, buying Bitcoin is a byproduct of the company’s conviction and operational alignment with the crypto sector. Armstrong emphasized that Coinbase has no intention of becoming a proxy for Bitcoin like Strategy. The stock of Coinbase Global has declined 23% this year to trade at $199.32 U.S. per share.