PANews reported on May 10 that Coinbase had considered adopting the Bitcoin purchase strategy promoted by Michael Saylor in the past, but believed that the plan was too risky, according to Bloomberg. "We have indeed had moments in the past 12 years when we wondered whether we should put 80% of our assets into cryptocurrencies - specifically Bitcoin," said Brian Armstrong, CEO of Coinbase, in a video speech on the X social network. Coinbase ultimately decided to abandon this strategy because it could damage the company's cash position as a startup and could even "kill" the San Francisco-based company. Nevertheless, according to the company's latest shareholder letter, Coinbase purchased $153 million worth of cryptocurrencies (mainly Bitcoin) in the first quarter. According to the letter, the company holds $1.3 billion worth of cryptocurrencies (mainly Bitcoin) as investments. Coinbase Chief Financial Officer Alesia Haas said the company does not want to be seen as competing with customers who invest in cryptocurrencies.