Coinbase Diversifies Holdings with $150 Million Bitcoin Investment

Coinbase is undergoing a strategic shift in its approach to Bitcoin, investing $150 million in the cryptocurrency to diversify its holdings. This move reflects a departure from traditional crypto investment strategies, where many companies focus on accumulating Bitcoin as a primary asset. Coinbase CEO Brian Armstrong has emphasized that these investments are viewed as essential business functions rather than speculative ventures, similar to how companies invest in essential materials for their operations.