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Coinbase added 2,509 BTC in Q2, now holding 11,776 BTC in total
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The purchase brings Coinbase ahead of Tesla in public BTC treasuries
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Coinbase plans to offer tokenized stocks and prediction markets
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Q2 losses tied to data breach, but net income jumped to $1.43B
Rejoining the Top Bitcoin Treasury Holders
Coinbase disclosed it purchased 2,509 BTC in Q2 for $222 million, pushing its total Bitcoin holdings to 11,776 BTC, currently valued around $1.3 billion. The acquisition propels Coinbase back into the top 10 list of public companies holding Bitcoin, surpassing Tesla, which holds 11,509 BTC.
CEO Brian Armstrong emphasized the company’s pro-Bitcoin stance, posting “Coinbase is long bitcoin” on X. The BTC holdings represent Coinbase’s own balance sheet assets and do not include the 884,000+ BTC it holds in custody for users and institutions.
Pivot Toward a Broader Financial Ecosystem
Coinbase also announced plans to become an “everything exchange” for U.S. users. The strategy includes launching tokenized stock trading, prediction markets, and onchain early-stage token sales. This expansion would see Coinbase enter new competitive territory against players like Robinhood and Polymarket.
VP of Product Max Branzburg said the goal is a unified trading experience across asset classes. The new offerings are expected to launch in the coming months.
Earnings Report Highlights and Stock Reaction
While Q2 saw declines in transaction revenue and trading volumes, Coinbase posted net income of $1.43 billion, boosted by its ETF custody services and the performance of its Ethereum Layer 2 network, Base.
Despite these financial gains, the company reported a $307 million loss linked to a significant data breach earlier this year. Coinbase shares dropped over 11% in after-hours trading, falling to $334.92.
