Coinbase Accumulates 9,267 BTC, Valued at $1 Billion, as CEO Armstrong Reiterates Long Bitcoin Stance

Coinbase, a leading cryptocurrency exchange, has been actively accumulating Bitcoin, purchasing the cryptocurrency weekly using its excess cash. This strategy contrasts with the more aggressive approach taken by MicroStrategy, which issues shares to fund its Bitcoin purchases. Coinbase's cautious approach allows it to build a crypto reserve without risking its core operations or fully committing to a Bitcoin treasury. As of the latest data, Coinbase holds 9,267 BTC, valued at approximately $1 billion, which represents about 25% of its net cash position.

Coinbase CEO Brian Armstrong has reiterated the company's optimistic outlook on Bitcoin, stating, "We’re buying more Bitcoin every week," and emphasizing the company’s commitment with the bold declaration, "Long Bitcoin." This statement comes at a time when the S&P 500 index has been surging, driven by strong US jobs data and positive developments in trade negotiations. Armstrong's bullish stance on Bitcoin is supported by the cryptocurrency's growing traction among institutional investors, as evidenced by the strong performance of crypto-adjacent stocks. Coinbase itself saw a nearly 6% increase in its stock price following the acquisition of token management platform Liquifi, part of its broader strategy to expand services and attract more institutional clients.

Coinbase's strategy involves a balanced approach to Bitcoin accumulation. The company disclosed $150 million in crypto purchases in Q1 2025, mostly in Bitcoin. CFO Alesia Haas emphasized that Coinbase views itself as an operating company rather than a Bitcoin treasury, allowing it to support Bitcoin while maintaining financial flexibility. This cautious accumulation strategy has enabled Coinbase to build a crypto portfolio valued at $1.3 billion, which equals about 25% of its net cash position.

In addition to its Bitcoin holdings, Coinbase is preparing to launch U.S.-based perpetual trading products on July 21. These products have long been unavailable due to regulatory limits, and their introduction signals Coinbase's commitment to offering advanced tools to U.S. traders. Furthermore, Coinbase Research Director David Duong addressed rumors of a record-breaking Ethereum short, clarifying that the data used was misleading and did not reflect market reality. Duong stressed the importance of reliable research and warned investors to avoid reacting to questionable data.

Armstrong's optimism about Bitcoin's potential as a store of value and a medium of exchange is likely to attract more investors, driving its adoption and growth. Despite increased scrutiny from regulators, Armstrong remains confident in Bitcoin's decentralized nature and its potential to disrupt traditional financial systems. He believes that Bitcoin's ability to provide financial services to the unbanked and underbanked will continue to drive its adoption and growth.