Coinbase announced its purchase of 2,509 BTC during the reporting period, making it one of the largest BTC holders among public companies.
Bitcoin Purchase and Its Significance
In the second quarter 2025 earnings report, Coinbase disclosed acquiring 2,509 BTC, raising its total holdings to 11,776 BTC. The purchases cost approximately $222 million, bringing Coinbase's total BTC investments to $740 million. This acquisition has placed Coinbase ahead of Tesla, which currently holds 11,509 BTC, and positioned it within the top 10 largest publicly traded bitcoin treasuries.
Financial Results and New Ventures
Despite facing challenges, including a $307 million loss in the second quarter related to a data breach, Coinbase reported a significant net income jump to $1.43 billion compared to $66 million in the previous quarter. Spot trading volume decreased by 30% to $237 billion, and total revenue fell by 26%.
Platform Strategy and Competitive Landscape
Coinbase aims to launch a new strategy, branding itself as the 'exchange for everything.' The company plans to offer tokenized stocks, prediction markets, and early-stage token sales for US users. This move will directly compete with platforms like Kalshi and Polymarket, as well as with Robinhood and Kraken in the tokenized assets space.
Overall, Coinbase has not only strengthened its position in the bitcoin market but is also poised to compete actively with other major players in the fintech and digital assets arenas.
