Coinbase, as a crypto exchange operator, has just revealed that it is holding bitcoins and other crypto-assets since 2012 as an investment on its balance sheet.
In a recent blog post, Coinbase, a United States crypto exchange operator has revealed, that crypto-assets like bitcoin BTC has been a major source of corporate treasury and investment since the beginning of 2012. And they aim to maintain the strong and long-term potential of the crypto-based economy.
Coinbase has first time publically shared the information on bitcoin as a part of their balance sheet. Although they have not yet exposed the specific figure of investment, still they became a solid example for other private and public companies on how to manage their prospective investment in their light.
An FAQ published by Corporate Treasury FAQ shared detailed information for the companies trying to pursue investment in digital currencies, especially bitcoin BTC. This FAQ addresses general information on the guidelines for tax policies, accounting, and all manners of questions on regulatory and technical support for investment in crypto from a corporate perspective, highlighting Coinbase as the best option for a safer investment.
Currently, crypto and non-crypto-based companies are holding $67 million worth of bitcoin on their balance sheet. This data is revealed by Bitcoin Treasury, and it is estimated by bitcoin’s worth around $50,000. Tesla and MicroStrategy, with many other firms, have recently acquired bitcoin on their balance sheet with the help of Coinbase. Tesla, with an investment of $1.5 billion in bitcoin, has made headlines as the profit is estimated to be $1 billion.
Coinbase has achieved “nine and ten-figure trades for some of the largest institutions in the world,” said Tejpaul without disclosing any names. Coinbase has provided $320 billion in the trade and claims to have assets of $25 billion.
According to the analysts, the majority of corporations were expected to invest in bitcoins after tesla’s move, but only 5 percent of the publicly trading companies have shown confidence to hold bitcoin at present until there is clarity in its regulation.
Currently, bitcoin reaching up to $56,239 has resulted in Coinbase being the best option for trade execution of bitcoins. Filing is expected to be revealed next week, shedding some light on Coinbase’s bitcoin investment and business.