Bitcoin News Today: Coinbase Surpasses Tesla as Top 10 Bitcoin Holder With 11,776 BTC

Coinbase has moved to the top 10 of publicly traded companies in terms of Bitcoin holdings, surpassing Tesla after acquiring 2,509 BTC in the second quarter of 2025, raising its total reserves to 11,776 BTC valued at approximately $1.3 billion [1]. This strategic move reinforces the company’s long-term commitment to Bitcoin, as reiterated by CEO Brian Armstrong on X, where he stated, “Coinbase is long bitcoin” [2]. Tesla currently holds 11,509 BTC, placing it just behind Coinbase in the rankings [3].

The 2,509 BTC acquisition came at a cost of $222 million, generating an estimated $614 million in unrealized gains based on current market valuations [5]. The shift in Bitcoin holding rankings highlights a growing trend among corporations to treat Bitcoin as a strategic asset. This is especially evident as more traditional financial institutions explore digital assets as part of broader treasury management strategies [4].

Coinbase is not stopping at Bitcoin. The company is actively pursuing its vision to become an “everything exchange” by introducing tokenized U.S. stocks, prediction markets, and derivatives. These innovations aim to make financial services more accessible by enabling real-time trading and reducing costs compared to traditional markets. The company has already applied to the U.S. Securities and Exchange Commission (SEC) for the necessary permissions to offer these products [6].

However, the second quarter was challenging for Coinbase. A security breach cost the firm $307 million, attributed to an internal issue involving offshore support agents and user data leaks [5]. Additionally, the firm reported a 30% decline in spot trading volume compared to the previous quarter, standing at $237 billion. Total revenue and transaction revenue also dropped by 26% and 39%, respectively [5].

Despite these headwinds, Coinbase reported net revenue of $1.43 billion for Q2, a significant jump from the $66 million in the prior quarter. This resilience signals the company’s growing adaptability in a competitive and volatile market [5].

Coinbase’s Bitcoin accumulation strategy and forward-looking product plans position it as a key player in the digital asset ecosystem. The company’s approach reflects the broader convergence between traditional finance and crypto markets, particularly as tokenized assets gain traction and regulatory clarity improves [6].

Source:

[1] title1.............................(https://www.cryptotimes.io/2025/08/01/coinbase-buys-2509-btc-entering-top-10-holders-surpassing-tesla/)

[2] title2.............................(https://www.xt.com/en/blog/post/coinbase-enters-bitcoin-treasury-top-10-amid-push-for-tokenized-stocks-and-prediction-markets)

[3] title3.............................(https://www.eblockmedia.com/news/articleView.html?idxno=25094)

[4] title4.............................(https://dexalot-test.com/en/blog/coinbase-bitcoin-holdings-supremacy)

[5] title5.............................(https://www.cryptonite.ae/global/coinbase-everything-exchange-bitcoin-holdings)

[6] title6.............................(https://cryptodaily.co.uk/2025/08/coinbase-plans-everything-exchange-with-tokenized-stocks-for-us-market)