Coinbase has bought 2,509 more Bitcoins in the second quarter of 2025, spending around $222 million to grow its crypto reserves. The move pushes Coinbase ahead of Tesla in total Bitcoin holdings among public companies.
As of June 30, Coinbase now holds 11,776 BTC on its balance sheet, giving the company a total value of roughly $1.3 billion in Bitcoin. Tesla, in comparison, still holds 11,509 BTC. “Coinbase is long bitcoin,” CEO Brian Armstrong said on X, adding, “We keep buying more.”
This latest purchase boosted Coinbase from 13th place to the top 10 list of public companies holding the most Bitcoin. The company had previously held 9,267 BTC at the end of Q1, according to its SEC filing. The total cost of its holdings now stands at $740 million, giving it a paper gain of about $614 million.
Coinbase made this announcement during its Q2 earnings call late Thursday. The earnings report also included a big new plan: Coinbase wants to become an “everything exchange.” The company hopes to let U.S. users trade tokenized stocks, prediction markets, and early-stage token sales — all on the same platform.
According to Max Branzburg, VP of Product at Coinbase, the goal is to allow users to trade all asset types on-chain. The company plans to launch this new offering in the coming months, which will put it in direct competition with platforms like Robinhood, Kraken, Kalshi, Polymarket, and Gemini.
Even with these expansion plans, the quarter wasn’t all positive. Coinbase reported a $307 million loss due to a data breach earlier this year. Reports say offshore agents were bribed to leak sensitive user data.
Trading volume also dipped. Spot volume fell 30% from Q1 to $237 billion, while transaction revenue dropped 39%. Still, Coinbase posted a surprising net income of $1.43 billion, a major jump from $66 million in the previous quarter.
The Shares closed flat on Thursday at $377.76 but fell 14.83% after hours to $321.75.
Also Read: Tether Reports $2.6B Profit on Bitcoin and Gold in Q2 2025
