/https%3A%2F%2Fnews.trijo.co%2Fwp-content%2Fuploads%2F2023%2F05%2FKopia-av-Trijo-News-bild-7.png)
MicroStrategy Posts Q1 Profit, Reaffirms Commitment to Bitcoin Investment Strategy
MicroStrategy, a business intelligence platform, has reported a profit of $94 million in the first quarter of 2023, marking its first quarterly...
Brian Armstrong, CEO of Coinbase. Image source: Flickr/TechCrunch / Shutterstock
Brian Armstrong, CEO of Coinbase, now confirms that the company has been profitable for the past two years.
During Vanity Fair’s New Establishment Summit in Los Angeles, USA, Brian Armstrong, CEO of Coinbase, said that the American crypto exchange has been profitable since 2017.
In fact, Coinbase has received nearly $2 billion in transaction fees since the company started in 2012.
“Most of these profits were plowing back into the business to create new products I sort of think of us as the anti-unicorn unicorn. I want Coinbase to be a company of repeatable innovation”, Brian Armstrong said during the conference, according to Vanity Fair.
A “unicorn” is a privately owned startup company valued at over $1 billion.
However, whether Coinbase, which is currently valued at $8 billion, should be placed in that category, Armstrong did not really want to answer.
“I leave that up to investors. I just like to build products with technology”, he said according to Vanity Fair.
MicroStrategy, a business intelligence platform, has reported a profit of $94 million in the first quarter of 2023, marking its first quarterly...
In times of economic uncertainty and market volatility, Bitcoin has gained recognition as a safe haven asset. Its ability to provide investors...
Hong Kong's Securities Futures Commission (SFC) is preparing to release cryptocurrency exchange licensing guidelines in May, as reported by...