High-profile US-based exchange Platform Coinbase has reportedly disclosed details of its strategy for purchasing $500M In crypto. 

Specifically, Head of Coinbase – Brian Armstrong – reportedly revealed a greenlight from the firm’s board, regarding the crypto spending spree, with additional insights into Coinbase’s investment strategy, where it will dedicate 10% of all profits earned to virtual assets, in the future. 

Armstrong further shared that the company reportedly expects to gradually amp up the profit proportion it devotes to cryptocurrency purchases. 

The initiative will reportedly help Coinbase secure the spot of the pioneering publicly traded firm to hold Ether (ETH), decentralized finance tokens and proof-of-stake assets on its balance sheet.

The development additionally highlighted Coinbase’s devotion to carrying out long-term investments across the crypto sphere. 

“Our investments will be continually deployed over a multi-year window using a dollar cost averaging strategy. We are long term investors and will only divest under select circumstances, such as an asset delisting from our platform.”

The post also revealed that future investments can potentially be informed by its customers’ holdings, showing signs of a possibility of Coinbase including an asset in its balance sheet, if clients finalize significant custodial deposits of a particular digital coin. 

Coinbase will reportedly conduct its trades with the assistance of third-party platforms, or through its over-the-counter trading desk, to minimize any possible conflicts of interest with its clients.

Coinbase is currently standing at the 8th spot on the list of top public entities, in terms of Bitcoin (BTC) holdings, and the most major exchange, value BTC held in its treasury-wise.