The cryptocurrency exchange Coinbase announced in early 2020 that it brokered the Microstrategy company to invest in Bitcoin. It was stated that Microstrategy, which bought $ 425 million worth of BTC, made its purchases through the Coinbase platform in a few strengths.
As it is known, Microstrategy company frequently came to the agenda with its heavy Bitcoin investment this year, and other corporate companies followed in the footsteps of the company. The CEO of the famous company, Michael Saylor, announced his personal wealth and bought 17,732 bitcoins.
The US-based Coinbase exchange acted as an intermediary for Microstrategy’s Bitcoin purchases, according to The Block. Brett Tejpaul, head of Coinbase’s corporate sales department, said:
“Using our high trading capabilities, our leading crypto broker platform and our OTC system, we were able to purchase a significant amount of Bitcoin on behalf of MicroStrategy, and we were able to do so without moving the market.”
BTC purchased in 2 parts
According to the information shared with The Block, Microstrategy’s BTC purchases were carried out in two separate transactions. It was stated that while the investment of 250 million dollars was made within 5 days, the main order was divided into small orders and realized within a certain time period.
It was learned that a Coinbase spokesperson declined to comment on whether similar deals were made.
Why did Microstrategy choose Coinbase?
According to what is shared in Coinbase’s blog post, Microstrategy’s choice is based on 3 key factors: Coinbase’s smart order routing system, trading algorithms, and white-glove services (top-notch service with attention to detail). However, it was also said that Microstrategy has made several transaction attempts with Coinbase.
