Coinbase CEO Reacts to $100,000 Bitcoin (BTC): Details

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As a seasoned analyst with over two decades of experience in the financial sector, I have witnessed the evolution of various assets and their impact on global markets. The recent surge of Bitcoin (BTC) beyond $100,000 is nothing short of remarkable, marking a significant milestone not just for cryptocurrency but for alternative investments as a whole.

Bitcoin (BTC) has just soared to a new record, breaking the $100,000 barrier – an important milestone for the cryptocurrency sector, not only in terms of finances but also psychologically. This significant feat has ignited much jubilation and scrutiny among crypto enthusiasts, highlighting Bitcoin’s impressive growth trajectory and its potential future accomplishments.

In his latest blog post, Coinbase CEO Brian Armstrong highlighted the impressive performance of Bitcoin since its inception, using an example to illustrate this point. If you had invested $100 in Bitcoin back in 2012 when Coinbase started, it would be worth approximately $1.5 million today. Armstrong also emphasized that the purchasing power of $100 in traditional currency has decreased over time, making Bitcoin an attractive option for shielding oneself from inflation.

If you had invested $100 in Bitcoin when Coinbase was established in June 2012, its value would have grown to approximately $1.5 million today.

— Brian Armstrong (@brian_armstrong) December 5, 2024

Additionally, he proposed that governments might want to consider holding Bitcoin in their long-term investment portfolios. He highlighted the fact that it has been the top-performing asset over the past 12 years and suggested there’s potential for further growth, given that Bitcoin is still relatively new in terms of adoption and development.

How much Bitcoin does Coinbase hold?

Armstrong merely pointed to Coinbase’s publicly available financial statements when questioned about their investment in Bitcoin.

According to the most recent report from Coinbase, the firm currently has approximately $1.26 billion of its resources allocated towards cryptocurrencies. A closer look at their filing reveals that this investment encompasses 9,363 Bitcoins, valued around $959.94 million, and 119,696 Ethereums, valued at about $462.03 million. This means that Coinbase’s cryptocurrency holdings have already increased by 12.85%, or $161.97 million, over the past two months.

Discussions about Bitcoin‘s influence on worldwide finance have been reignited, with many people pondering its ability to displace conventional financial assets. Notable figures in the industry, such as Armstrong, advocate for broader acceptance due to its robustness and potential for providing lasting worth.

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2024-12-05 13:52