Bitcoin News Today: Despite Volatility, Coinbase Commits to Bitcoin with 2,772 BTC Treasury Expansion

Coinbase Global Inc. (NASDAQ: COIN) added 2,772 Bitcoin to its portfolio in the third quarter of 2025, signaling continued institutional confidence in the cryptocurrency despite market volatility. The purchase, revealed in a Forbes report and CEO Brian Armstrong's public statement, follows a broader trend of corporate treasury adoption of Bitcoin as a strategic asset. The move aligns with Coinbase's vision to position itself as a diversified financial services platform, leveraging both trading and staking revenues while expanding its stablecoin and blockchain infrastructure offerings.

The exchange reported third-quarter revenue of $1.9 billion, a 26% sequential increase and 55% year-over-year growth, with non-GAAP earnings per share of $1.50, surpassing analyst estimates of $1.10, according to Bitcoin Magazine. The beat was widely noted by Barchart, though market commentators had varied expectations heading into the release, per a Seeking Alpha preview. Transaction revenue surged to $1 billion, driven by renewed retail and institutional trading activity amid Bitcoin's rally to all-time highs, as reported by Yahoo Finance. Institutional volume rose 22% to $236 billion, bolstered by the August acquisition of Deribit, the world's largest crypto options exchange. Subscription and services revenue also climbed to $747 million, with stablecoin income—largely from managing Circle's USDC—rising 43% year-over-year to $355 million.

Coinbase's Bitcoin accumulation reflects a shift in its business model, treating the asset as a long-term treasury investment rather than a tradable commodity. The company now holds 14,548 Bitcoin, valued at $2.6 billion, with an additional $1 billion in crypto collateral, bringing total crypto assets to $15.5 billion. This strategy mirrors approaches by firms like MicroStrategy, which have aggressively bought Bitcoin as a hedge against inflation and a store of value. Analysts had mixed forecasts leading up to the quarter, per KuCoin coverage.

The purchase also occurs amid broader market dynamics. Q3 saw the crypto market hit a $4 trillion valuation, with Bitcoin dominance dropping to 56.9% as Ethereum and other altcoins outperformed, according to Yahoo Finance. Analysts attribute this rotation to renewed institutional interest in Ethereum-based products, including spot ETFs and DeFi protocols, as well as growing adoption of stablecoins like USDC for corporate treasuries.

However, the market remains cautious about large Bitcoin movements. A separate $717 million transfer of 6,336 BTC from Coinbase to an unknown wallet in October sparked speculation about whale activity, though the exchange clarified it was unrelated to its Q3 portfolio adjustments. A CryptoRank article noted the transaction highlighted the anonymity and unpredictability of large crypto transfers, which can influence sentiment but rarely trigger immediate price shocks.

Coinbase's CEO Armstrong emphasized the firm's long-term commitment to Bitcoin, stating, "Coinbase is long Bitcoin. Our holding increased by 2,772 BTC in Q3. And we keep buying more." The company's shares rose over 4% in after-hours trading following the earnings release, with JPMorgan upgrading its price target to $404 by late 2026, coverage of the earnings beat and market reaction appeared across outlets including Yahoo Finance.