Coinbase, a prominent global cryptocurrency exchange, significantly expanded its Bitcoin holdings in the third quarter, adding 2,772 BTC valued at $300 million to its treasury. This strategic move was confirmed by CEO Brian Armstrong.
With this acquisition, Coinbase's total Bitcoin reserves now stand at 14,548 BTC, estimated to be worth approximately $1.57 billion, as detailed in its Q3 earnings report released on Thursday. The company's increased investment in Bitcoin aligns with its long-term vision and its ongoing objective to develop into an "Everything Exchange."
Coinbase is long bitcoin.
— Brian Armstrong (@brian_armstrong) October 30, 2025
Our holding increased by 2,772 BTC in Q3. And we keep buying more.
The "Everything Exchange" strategy is designed to position Coinbase as a comprehensive platform offering a wide array of crypto-related products, encompassing trading services, stablecoins, tokenized stocks, and prediction markets.
Coinbase's Q3 Financial Performance
Coinbase reported a substantial improvement in its financial results for the third quarter. Net income saw a more than fivefold increase year-on-year, reaching $432.6 million, while total revenue grew by 55% to $1.9 billion.
Transaction revenue experienced a significant surge, climbing to $1.05 billion. Subscription income, which includes revenue from stablecoins and blockchain rewards, also saw an increase of 34.3%, totaling $746.7 million.
Institutional investors continued to be the primary drivers of Coinbase's trading activity, contributing 80% of the total trading volume, which amounted to $295 billion.
Assets under custody surpassed the $300 billion mark, setting a new all-time high. Concurrently, Coinbase's Ethereum layer-2 network, Base, demonstrated strong user adoption across trading, payments, and social applications.
Market Reaction to Earnings
Following the release of its quarterly earnings, Coinbase's stock (COIN) experienced a rise of 2.84% in after-hours trading. This followed an earlier decline of 5.8% during the regular trading session, according to data from Google Finance.
Coinbase's performance in the third quarter highlights its growing influence in institutional trading and its sustained commitment to investing in Bitcoin as a core asset.
Through its "Everything Exchange" strategy and the expanding Base ecosystem, Coinbase continues to solidify its position as a key player within the evolving cryptocurrency economy.