Coinbase 應該全力投資比特幣

這是他們開創的行業！然而現在已經是 2024 年了，Coinbase 不會遵循 MicroStrategy 在他們面前炫耀的經過驗證的比特幣儲備模型。

Coinbase announced a $1 billion share buyback in an attempt to boost its stock price. However, the strategy failed, with shares barely moving.

Coinbase 宣布回購 10 億美元的股票，試圖提振股價。然而，該策略失敗了，股價幾乎沒有變動。

Instead of share buybacks, Coinbase should be using its cash to buy bitcoin and adding it to its corporate reserves. This would send a strong message and show that Coinbase is committed to the future of bitcoin and crypto.

Coinbase 應該使用現金購買比特幣並將其添加到公司儲備中，而不是股票回購。這將發出強烈的訊息，並表明 Coinbase 致力於比特幣和加密貨幣的未來。

As an industry pioneer, Coinbase should be maximizing its exposure to bitcoin's upside potential. Yet, despite MicroStrategy's success with the bitcoin reserve model, Coinbase has not followed suit.

身為產業先驅，Coinbase 應該最大限度地利用比特幣的上行潛力。然而，儘管 MicroStrategy 在比特幣儲備模式方面取得了成功，但 Coinbase 並沒有效仿。

MicroStrategy began purchasing bitcoin in 2020 and has since seen its market cap soar, surpassing that of Coinbase. This software company, with a fraction of Coinbase's revenue, has achieved remarkable growth thanks to its bitcoin holdings.

MicroStrategy 於 2020 年開始購買比特幣，此後其市值飆升，超過了 Coinbase。這家軟體公司的收入僅佔 Coinbase 的一小部分，但由於其持有的比特幣而實現了顯著的增長。

It is embarrassing for Coinbase, which has been operating since 2012, to witness a latecomer like MicroStrategy outpacing it in the bitcoin game. Had Coinbase fully embraced bitcoin earlier, it could have realized substantial gains.

對於自 2012 年開始營運的 Coinbase 來說，目睹 MicroStrategy 這樣的後來者在比特幣遊戲中超越自己，實在是尷尬。如果 Coinbase 更早全面擁抱比特幣，它可能會實現可觀的收益。

Coinbase should cease wasting money on share buybacks and unimpactful projects. The solution is clear: allocate a significant portion of its cash into bitcoin and keep stacking sats.

Coinbase 應該停止在股票回購和無影響的項目上浪費金錢。解決方案很明確：將大部分現金分配給比特幣並繼續累積比特幣。

For any self-respecting bitcoin and crypto company, holding bitcoin on its balance sheet is a no-brainer. It aligns interests with shareholders and enhances credibility.

對於任何有自尊心的比特幣和加密貨幣公司來說，在其資產負債表上持有比特幣是理所當然的。它使股東的利益保持一致並提高信譽。

Coinbase owes its existence to bitcoin, and it is time for the exchange to fully embrace the asset that brought it to where it is today.

Coinbase 的存在歸功於比特幣，現在是該交易所完全擁抱比特幣資產並使其發展到今天的時候了。