‘Putting their money where their mouth is’: Here’s what 3 analysts have to say about Coinbase’s decision to add $500 million of crypto to its balance sheet

‘Putting their money where their mouth is’: Here’s what 3 analysts have to say about Coinbase’s decision to add $500 million of crypto to its balance sheet

Announced on Thursday that it would while also allocating 10% of its quarterly net income to a portfolio of crypto assets. Insider gathered insights from three Coinbase analysts to understand the move. "I like that they put their money where their mouth is," said Mizuho analyst Dan Dolev. He told Insider that for a company with crypto central to its business, Coinbase still operates heavily in fiat money. This move slightly changes that, although Dolev would like to see the exchange go a step further, and charge customer transaction fees in crypto, not dollars. "That would signal even more commitment" to cryptocurrency, Dolev said. Coinbase CFO Alesia Haas admitted that the majority of Coinbase's corporate financial transactions - like paying vendors and employees, or investing corporate cash - are "heavily weighted" in fiat in a Friday . But she said Coinbase wants to lead by example by enabling crypto adoption and utility, and this investment is a move towards that goal. "We believe that in the future, more and more companies will hold crypto assets on their balance sheet," said Haas. "We hope by incorporating more crypto assets into our own corporate financial practices, we can take another step towards