Coinbase bought 2,509 BTC in Q2, now holding 11,776 BTC, surpassing Tesla.

Coinbase bought 2,509 BTC in Q2, now holding 11,776 BTC, surpassing Tesla.

Coinbase (COIN) has significantly increased its Bitcoin (BTC) holdings, buying an additional 2,509 BTC in the second quarter (Q2) of 2025. This brings Coinbase's total BTC holdings to 11,776 BTC, surpassing Tesla's holdings of 10,000 BTC [3]. The move is part of Coinbase's strategy to diversify its revenue stream and expand its business offerings.

In a statement on X, Coinbase CEO Brian Armstrong confirmed the company's commitment to Bitcoin, stating, "Coinbase is long Bitcoin. Our holding increased by 2,509 BTC in Q2, and we keep buying more" [3]. This acquisition is part of a broader trend where companies are adopting Bitcoin as part of their treasury strategies, mimicking the approach of companies like Michael Saylor's Strategy (MSTR).

In addition to its Bitcoin holdings, Coinbase is planning to launch tokenized U.S. stocks and prediction markets. The company confirmed to CNBC that it is preparing to offer tokenized versions of U.S. equities, allowing users to buy and sell fractions of stocks around the clock with faster settlement and lower costs than traditional equity markets [3]. Coinbase's chief legal officer, Paul Grewal, announced in June that the company was seeking approval from the U.S. Securities and Exchange Commission (SEC) for these products [3].

The push towards tokenization is not unique to Coinbase. Financial institutions such as BlackRock, Franklin Templeton, and JPMorgan have also been exploring this space to improve efficiency and accessibility in capital markets [3]. Coinbase's top competitors, Robinhood and Kraken, have also launched tokenized stocks outside of the U.S. [3].

Coinbase is also planning to launch prediction markets, enabling users to bet on future events' outcomes using crypto assets. These features are expected to roll out within months, pending regulatory clarity, according to Coinbase's vice president of product, Max Branzburg [3].

Despite the company's ambitious plans, Coinbase reported mixed financial results for Q2 2025. The company reported a net income of $1.43 billion, driven largely by $1.5 billion in pre-tax gains from strategic crypto investments and unrealized gains from its holdings [2]. However, the trading business disappointed with a 39.7% sequential decrease in overall trading volume and a 44.9% drop in retail trading volume [2]. Despite these setbacks, subscription and service revenue increased 9.5% year-over-year (YoY) but decreased 6.1% sequentially [2]. The company's on-chain strategy continued to expand with the introduction of CFTC-approved perpetual futures contracts [2].

Following the earnings release, Coinbase shares fell nearly 9% in after-hours trading, as investors appeared unimpressed by the revenue shortfall [2]. Coinbase's CEO, Brian Armstrong, emphasized that the company delivered "solid financial results" for the quarter and outlined a long-term vision to become the top financial app globally over the next decade [2].

References:
[1] https://www.coindesk.com/business/2025/07/31/coinbase-increases-bitcoin-holdings-plans-tokenized-stocks-in-u-s
[2] https://www.ainvest.com/news/coinbase-q2-earnings-disappoint-strong-net-income-investment-gains-2508/
[3] https://finance.yahoo.com/news/coinbase-increases-bitcoin-holdings-plans-213149715.html