Coinbase has edged past Tesla to become the tenth-largest corporate holder of Bitcoin, according to figures from Bitcointreasuries.net.
The exchange now controls 11,776 BTC worth about $1.36 billion, overtaking Elon Musk’s EV company on the leaderboard of public Bitcoin treasuries.
CEO Brian Armstrong confirmed in an X post that Coinbase added more than 2,500 BTC in the second quarter of 2025 and plans to keep accumulating. The company’s average purchase cost stands at $740 million, giving it a paper gain of over half a billion dollars at current prices.
Tesla, meanwhile, has held its position without selling since its initial buy, continuing to accept Bitcoin payments for merchandise. With Musk known for his pro-crypto stance, analysts suggest Tesla could make fresh purchases and reclaim its place in the rankings.
The reshuffle highlights how corporate treasuries are increasingly becoming a competitive space for Bitcoin exposure, with both exchanges and industrial giants vying for spots among the largest holders.
Alexander Stefanov
Reporter at Coindoo
Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
Source: https://coindoo.com/coinbase-breaks-into-top-10-bitcoin-holders-with-1-36b-stash/