U.Today – (BTC) recently reached a new high above the $100,000 mark. This is a major event for the cryptocurrency market, both economically and psychologically. This achievement has sparked much celebration and analysis across the crypto community, showing how the asset has grown and what it can still accomplish.
Coinbase (NASDAQ:) CEO Brian Armstrong shared his thoughts on this historic event in a recent post, pointing out how well Bitcoin has performed over the years. He pointed out that if you had invested $100 in Bitcoin in 2012, when Coinbase was first founded, it would be worth about $1.5 million today. Armstrong also pointed out that $100 of fiat currency is not as valuable as it once was, and that Bitcoin is a good way to protect against inflation.
He also suggested that governments consider including Bitcoin in their strategic reserves, noting that Bitcoin has been the best-performing asset over the past 12 years and that Bitcoin is still in the early stages of adoption and development. Therefore, he pointed out that there is still room for growth. .
How much Bitcoin does Coinbase hold?
When asked about Coinbase's own investment in Bitcoin, Armstrong simply referred to the company's public financial information.
According to Coinbase's latest report, the company has invested $1.26 billion in crypto assets. According to a more detailed filing, these holdings include 9,363 BTC worth approximately $959.94 million at current prices and 119,696 ETH worth $462.03 million. Therefore, Coinbase's cryptocurrency holdings have already increased by 12.85%, or $161.97 million, in two months.
This milestone got people talking again about Bitcoin's role in global finance and its potential to challenge traditional asset classes. Industry leaders like Armstrong say it should be more widely accepted because it is resilient and can provide long-term value.
This article was originally published on U.Today
