BeInCrypto –
Coinbase has announced a strong initiative to invest more of its earnings into cryptocurrency, wishing to lead by example in the adoption of crypto.
Coinbase announced on August 20 that it had updated its investment policy, increasing its investments in crypto assets. Saying that it believes in a crypto economy, “where buying, selling, spending and earning will be based on crypto assets,” the exchange hopes to eventually encourage greater crypto utility.
The San Francisco-based exchange wants to “lead by example,” and encourage adoption and utility by working into the business. The new investment policy will see Coinbase dedicate $500 million of cash and cash equivalents for investment. Furthermore, it will allocate 10% of its quarterly net income into a portfolio of crypto assets.
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