Coinbase Expands Bitcoin Holdings as it Aims for ‘Everything Exchange’ Vision

Coinbase’s Bitcoin reserves increased by 2,772 BTC during the third quarter as the exchange continued to invest heavily in its Bitcoin strategy and pursue a broader ‘Everything Exchange’ vision. The company reported its Q3 holdings reached 14,548 BTC, valued at $1.57 billion. This growth was fueled by increased transaction revenue, which climbed to $1.05 billion, and subscription revenue, including stablecoin earnings and blockchain rewards, rising 34.3% year-on-year to $746.7 million. Coinbase also saw a significant boost in net income, increasing fivefold from the previous year to $432.6 million.