Market Radar: Coinbase Prime Invests Heavily in Bitcoin Holdings

Coinbase Prime Increases Bitcoin Exposure

In a recent regulatory submission, Thumzup reported that leading exchange Coinbase Prime acquired 9.783 Bitcoins (BTC) for $1,000,020, indicating an average purchase price of $102,220 per Bitcoin, including fees.

Regulatory Approval Received

Coinbase Prime requested and received approval from its directors to hold up to 90% of their non-US assets in Bitcoin. This move demonstrates the exchange’s commitment to storing and managing its customers’ cryptocurrency holdings.

Paying G gig Economy Workers in Bitcoin

Thumzup plans to start paying gig economy workers in Bitcoin, following all applicable laws and regulations. This development signifies a step towards wider adoption of cryptocurrencies as a means of payment for freelance work.

Key Points:

• Coinbase Prime acquired 9,783 Bitcoins worth $1,000,020.
• The average purchase price per Bitcoin was $102,220, including fees.
• Regulatory approval allowed the exchange to hold up to 90% of its non-US assets in Bitcoin.
• Plans to pay gig economy workers in Bitcoin, following applicable laws.