Coinbase Shares Hit All-Time High at $375.07 as CEO Armstrong Buys Bitcoin Weekly

Brian Armstrong, the CEO of Coinbase, has publicly announced that the company engages in weekly Bitcoin purchases, reinforcing his optimistic outlook on the world’s largest cryptocurrency. This declaration came as Coinbase shares reached an all-time high of $375.07, surpassing the previous record set in November 2021. Armstrong’s statement underscores Coinbase’s strong conviction in Bitcoin as a long-term store of value, a perspective he has repeatedly expressed, suggesting that Bitcoin’s price could potentially reach millions of dollars in the future.

Armstrong also hinted that it may not be long before nations begin to include Bitcoin in their balance sheets, a move that could significantly alter global demand and establish Bitcoin as a key player in international politics. While some view this as overly speculative, others point to countries like El Salvador and the Central African Republic, which have already taken steps in this direction.

Whether symbolic or strategic, Armstrong’s consistent Bitcoin purchases reflect a broader trend among crypto leaders and institutional investors who view Bitcoin as a hedge against inflation, currency volatility, and systemic risk. This trend is part of a larger narrative of growing acceptance and integration of cryptocurrencies within the traditional financial system.

Coinbase Global Inc. shares closed at their highest level ever, marking the culmination of a rally driven by the increasing acceptance of the cryptocurrency industry on Wall Street and in Washington. The crypto-exchange operator’s stock rose to $375.07, surpassing its previous high of $357.39 in November 2021, just months after the company went public through a direct listing. Coinbase shares have surged more than 1,000% from a record low in late 2022, which came as the collapse of FTX raised questions about the future of digital assets. The stock’s comeback occurred as cryptocurrency prices rebounded and the industry won powerful new allies, including the US President Donald Trump. Just last month, Coinbase was added to the prestigious S&P 500 Index.

This extraordinary revival comes after a dark period in the crypto industry. FTX and other heavyweights crashed in 2022, leading to the absurdly high skepticism rate about digital assets. Few of the largest exchanges were left unscathed, and Coinbase was one of the few that didn’t get whacked, leaving it as a safe player in a chaotic industry. Now, renewed optimism is back. Institutional capital is moving in, retail traders are coming back, and financial giants like BlackRock and Fidelity are plowing ahead with crypto products. Coinbase recently joined the S&P 500 Index, a sign of increasing legitimacy in traditional finance.

Analysts say the wider recovery in Bitcoin and Ethereum prices and greater regulatory clarity are helping lift investors’ confidence in Coinbase. The exchange’s various revenue streams, including trading fees, custody services, and institutional partnerships, have also contributed to its stock performance. The return of Coinbase also coincides with growing regulatory clarity and political support of digital assets in the United States. Washington is warming to crypto after years of hostility and uncertainty. Legislation on the horizon on stablecoins and clearer signals from the Securities and Exchange Commission (SEC) are also helping the sector lay down the law. Bipartisan backing in Congress has added fresh momentum to bills that could provide transparency and oversight, particularly in critical functions including custody, staking, and decentralized finance. President Donald Trump has publicly supported crypto innovation, unlike previous administrations. Under his rule, there has been a huge policy expansion in the domain of crypto, such as creating a crypto reserve for the country. Coinbase, a longtime advocate for reasonable regulation, has been one of the most vocal in communicating with legislative staff and regulatory agencies. And it is paying off. Investors, analysts, and crypto enthusiasts these days see Coinbase as not just an exchange but also a bridge between the digital economy and the traditional financial system.