Coinbase, the world's third-largest cryptocurrency exchange, has announced a plan to issue $2 billion in convertible senior notes, potentially marking a significant development in the migration of capital from traditional markets to digital assets.
Terms of the Note Offering
Coinbase has announced a $2 billion offering of convertible senior notes for 'qualified institutional buyers'.
The notes include $1 billion maturing in 2029 and another $1 billion maturing in 2032.
Planned Use of Proceeds
The company plans to use the net proceeds from the offering to cover costs associated with the capped call transactions related to the note offering as well as for general corporate purposes, including working capital, capital expenditures, and investments in other companies, products, or technologies.
Current Bitcoin Holdings of Coinbase
Currently, Coinbase is the tenth largest public holder of Bitcoin, owning 11,776 BTC valued at $1.26 billion.
In the second quarter of 2025, the company successfully acquired 2,509 Bitcoin worth over $288 million.
The issuance of bonds by Coinbase may have a significant impact on the market, generating increased interest from institutional investors and signaling a new wave of capital investments in cryptocurrency assets.
