Really, at this point, Coinbase is just embarrassing itself by not buying Bitcoin and doing silly buybacks.
Coinbase just had a bad quarter. After reporting disappointing Q3 earnings, its stock plunged over 10%. To instill confidence, Coinbase announced a $1 billion share buyback. But that flopped, too, with shares barely budging.
This whole debacle just shows that Coinbase is foolishly ignoring the obvious strategy here — buying bitcoin.
Instead of share buybacks, imagine if Coinbase put $1 billion into bitcoin for its corporate reserves. That would have sent a real message. It would show they have skin in the game and truly believe in Bitcoin and crypto’s future.
Let’s be clear – Coinbase should be all-in on Bitcoin’s upside. This is the industry they pioneered! Yet here we are in 2024, and Coinbase won’t follow the proven Bitcoin reserve model that is literally being flaunted in their face by MicroStrategy.
Look, I am not any financial engineering expert to tell publ
We współpracy z: https://bitcoinmagazine.com/takes/coinbase-is-embarrassing-itself-by-not-buying-bitcoin
