Coinbase Reveals how Much Bitcoin and Ethereum They Hold

By jbrendon21 | Crypto Currency: An Outsider's Perspective: Part 1 | 25 Feb 2021

Hello everyone, my last two posts have been about institutional investors purchasing large quantities of Bitcoin. Today I will be talking about how much Coinbase has invested in the two main Cryptocurrencies. Since 2012, Coinbase has been holding cryptocurrency in its treasury (Source). They have not officially released the amount of quantity until today. As of today's date (February 25th, 2021) Coinbase holds approximately $230 Million in Bitcoin and $53 Million in Ethereum (Source). This ranks them fourth on the list of companies that hold Bitcoin in their treasury, according to bitcointreasuries.org

This puts them behind MicroStrategy, Tesla, and Galaxy Digital Holdings, and just above Square. As Coinbase prepares to become listed on the Nasdaq, it appears that this latest balance sheet filing may improve their upcoming IPO.

Resources

Bitcoin (BTC) Crypto Ethereum (ETH) Crypto News BTC

How do you rate this article?

jbrendon21

A newcomer to the crypto market, excited to learn about the many different types of cryptos and what needs they fulfill.

Crypto Currency: An Outsider's Perspective: Part 1

Hello everyone, my name is jbrendon21 and this is my first blog for Publish0x! Within the last few months, I have began the exciting and often overwhelming journey into the realm of Crypto. Prior to Crypto, I was (and still am) invested into the stock market, particularly penny stocks. During the beginning of my venture into stocks, there was quite a learning curve. Reading the financials, filings through the SEC, tracking the charts for patterns, and being in tune with social media groups.