Coinbase will buy $500M of crypto, Brian Armstrong announced

As per the announcement of Coinbase, it will buy $500M of crypto and Invest 10% of all future revenues in cryptocurrency.

Through tweeter, the announcement was made by CEO Brian Armstrong.

We recently received board approval to purchase over $500M of crypto on our balance sheet to add to our existing holdings. And we'll be investing 10% of all profit going forward in crypto. I expect this percentage to keep growing over time as the cryptoeconomy matures.

— Brian Armstrong (@brian_armstrong) August 19, 2021

Coinbase is one of the top crypto exchanges and in the businesses, the company has some of the great brand-name gratitude. The company is going all-in on the technology it provides, with a huge one-time expenditure as well as a major recurring investment.

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