PANews reported on December 3 that Coinbase CEO Brian Armstrong said on social media that the U.S. government's sale of Bitcoin was a "major strategic mistake" and that it should not sell its Bitcoin holdings. In addition, he revealed that about 25% of Coinbase's net asset value (minus debt) is in cryptocurrencies, of which about half is Bitcoin, accounting for 12.5% of total net asset value.

He pointed out that since most of Coinbase's liabilities are still denominated in US dollars, it is currently difficult to bear higher Bitcoin allocation risks, but he is open to increasing the holding ratio and welcomes community discussions on this.