Coinbase Decided Following Strategy's Bitcoin Reserve Playbook ‘Too Risky’: CEO
Brian Armstrong argued that excessive exposure to Bitcoin would have been too risky, though about a quarter of its net cash is in crypto.

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Coinbase CEO Brian Armstrong has revealed that the crypto exchange considered putting 80% of its balance sheet into Bitcoin—but decided against it over fears it could "kill the company."

During a question-and-answer session with customers, executives were asked whether they missed an opportunity to start amassing BTC sooner, given the company had an eight-year headstart on software firm Strategy.
these reserves pale in comparison to the 555,450 BTC that Strategy has on its balance sheet, which is worth $58 billion at the time of writing.

The software firm first started acquiring BTC back in August 2020, and is currently sitting on paper profits of about $30 billion. Since then, a number of other companies have adopted a similar Bitcoin treasury strategy.

https://decrypt.co/318974/coinbase-strategys-bitcoin-reserve-playbook-risky