Armstrong’s move draws praise from Bitcoin leaders as Coinbase eyes long-term BTC growth.
Coinbase is making a serious move on Bitcoin. CEO Brian Armstrong has revealed that the crypto exchange is now purchasing Bitcoin every single week, strengthening its position in the ongoing race among institutions to stock up on BTC.
The exchange currently holds $995 million worth of Bitcoin, making it the 10th-largest corporate holder. Armstrong has also encouraged investors to “go long” on Bitcoin, signaling strong confidence in its future as prices inch closer to a new all-time high.
Coinbase launched in 2012 with a Bitcoin-only focus. Back then, Armstrong dismissed altcoins like XRP and Stellar (XLM) as distractions. In a now-deleted tweet from 2014, he claimed Bitcoin was “way far ahead” of the rest – reflecting a clear Bitcoin-maxi mindset at the time.
That changed in 2016 when Coinbase added support for Ethereum. Then in 2018, it expanded even further by enabling ERC-20 tokens. During the bull run, the platform added nearly 100 new tokens in just one year. This shift drew criticism from Bitcoin purists who accused Coinbase of chasing trends instead of staying true to BTC.
MicroStrategy’s Michael Saylor, whose company leads all others in Bitcoin holdings, praised Coinbase’s weekly purchases with a rocket emoji, showing his support for Armstrong’s move.
Bitcoin Magazine CEO David Bailey also backed the decision, calling Armstrong the “G.O.A.T.” for doubling down on Bitcoin in such a bold and consistent way.
Right now, Coinbase holds 9,270 BTC, while MicroStrategy holds a massive 592,345 BTC. While Armstrong’s commitment to buy weekly is significant, consistency will be key if Coinbase hopes to narrow the gap.
In terms of value, Coinbase’s holdings stand at $995 million, while MicroStrategy’s are worth about $33 billion. It’s a big difference but if Coinbase keeps buying aggressively, that could start to shift over time
Coinbase’s weekly BTC purchases reflect a growing trend: institutions increasingly view Bitcoin as a hedge against inflation and a way to preserve long-term value.
With Bitcoin currently trading at $107,363, Coinbase’s position in the market is strong and getting stronger. While altcoins still grab headlines, this move shows that for major players like Coinbase, Bitcoin remains the foundation.
Read more on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide
