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Coinbase discloses 2,509 BTC acquisition in Q2, re-enters top 10 public btc treawww.theblock.co/post/365218/coinbase-2509-btc-acquisition-q2-top-10-public-bitcoin-treasury-companies-tesla
400 sats \ 3 comments \ @0xbitcoiner 20h Stacker_Stocks

Quick Take

  • Coinbase disclosed it purchased 2,509 BTC in Q2 for approximately $222 million amid declining trading volume and revenue for the quarter.
  • Coinbase also announced plans to offer tokenized stocks and prediction markets in the U.S. as part of its “everything exchange” expansion.
"Coinbase is long bitcoin," CEO Brian Armstrong declared on X following the crypto exchange's Q2 earnings report late Thursday, disclosing it had bought an additional 2,509 BTC during the quarter at a cost of approximately $222 million.
That takes the firm's total bitcoin holdings to 11,776 BTC as of June 30, bought for a total cost of $740 million. "Our holding increased by 2,509 BTC in Q2, and we keep buying more," Armstrong said. Coinbase's stack is currently valued at around $1.3 billion, implying around $614 million of paper gains.
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167 sats \ 1 reply \ @BlokchainB 19h
Wow!!! Didn’t expect this! Coinbase really fumbled the sat here. They could have been light years ahead of any company if they adopted this strategy years ago
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100 sats \ 0 replies \ @0xbitcoiner OP 19h
Yeh! I think a few years back they said they’d be buying like 10% of the profits or something like that.
edit:
Coinbase will buy $500M in crypto and invest 10% of all future profits in digital assets
https://cointelegraph.com/news/coinbase-announces-500m-crypto-buying-spree-pledges-to-invest-10-of-future-profits-into-digital-assets
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0 sats \ 0 replies \ @nitter 20h bot
https://xcancel.com/brian_armstrong/status/1951022635942551645
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