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19 April 2021

Coinbase would have earned $2B just buying Bitcoin with its seed money

Coinbase would have earned $2B just buying Bitcoin with its seed money


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Coinbase would have earned $2B just buying Bitcoin with its seed money.

The United States’ biggest crypto exchange would have made more money by simply buying and holding Bitcoin (BTC) in 2013. .

Data circulating on social media reveals that despite Coinbase’s $800-million profits in Q1, the company would still be richer had it used its seed funding cash to buy BTC.

Erik Voorhees, founder of crypto exchange service ShapeShift, argued that Coinbase’s contribution to the cryptocurrency phenomenon made it incomparable to MicroStrategy?

Meanwhile, data on Wednesday showed a conspicuous spike in exchange outflows this week, a sign that long-term hodling and overall interest in buying Bitcoin is growing fast

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cointelegraph.com
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