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How Much Bitcoin Will Coinbase Buy?
Bitcoin News now admin /

The below is from a recent edition of the Deep Dive, Bitcoin Magazine‘s premium markets newsletter. To be among the first to receive these insights and other on-chain bitcoin market analysis straight to your inbox, subscribe now.

“We have committed to invest $500 million of our cash and cash equivalents into a diverse portfolio of crypto assets. Going forward, we will also allocate 10% of quarterly net income into this same portfolio.” – The Coinbase Blog

In a tweet from Coinbase CEO Brian Armstrong on Thursday night, it was announced that Coinbase was going to be purchasing $500 million in a “diverse portfolio of crypto assets,” and an interesting note is that the portfolio allocation will be decided based on the custodial balances of the assets held on Coinbase by its consumers.