Coinbase has officially surpassed Elon Musk's Tesla in Bitcoin holdings, securing the 10th position among top public Bitcoin treasury companies. The cryptocurrency exchange platform now holds 11,776 BTC, valued at approximately $1.36 billion, according to data from Bitcointreasuries.net.

This shift highlights Coinbase's increasing commitment to Bitcoin as a significant treasury asset.

Coinbase's Growing Bitcoin Reserves

Coinbase CEO Brian Armstrong has publicly stated the company's "long" position on Bitcoin (BTC).

In the second quarter of 2025, Coinbase's BTC holdings saw a substantial increase of 2,509 BTC. Armstrong indicated that the company plans to continue acquiring more Bitcoin in the future.

The exchange platform has seen considerable profit from its Bitcoin investments, with a total cost basis of $740 million for its holdings, which have a fair market value of $1.26 billion.

Tesla's Continued Bitcoin Investment

Despite being overtaken by Coinbase, Tesla maintains a bullish stance on Bitcoin.

The electric vehicle manufacturer has not sold any of its Bitcoin holdings and has expressed potential interest in increasing its reserves.

Tesla further solidifies its connection to the cryptocurrency by accepting Bitcoin for merchandise payments.

Analysts suggest that Tesla could potentially reclaim its previous position in the top Bitcoin holders list in the near future.

Market Correction Amidst Regulatory Developments

This development occurs as the broader cryptocurrency market experiences a correction, with Bitcoin falling to the $115,000 mark.

Over the past 24 hours, approximately $645.02 million worth of crypto assets have been liquidated. This market dip follows the U.S. Securities and Exchange Commission's (SEC) announcement of "Project Crypto", aimed at establishing the U.S. as a global crypto capital.

The downturn may also be influenced by the Federal Reserve's decision to maintain current interest rates and its warning regarding slow economic growth, potentially causing investors to shy away from riskier assets like Bitcoin and other cryptocurrencies.

The market's recovery could depend on a resurgence in retail interest and continued inflows into Bitcoin ETFs in the coming weeks.

Key Takeaways:

• Coinbase now holds more Bitcoin than Tesla.
• Coinbase plans to continue increasing its Bitcoin holdings.
• Tesla remains committed to its Bitcoin investments.
• The crypto market is currently undergoing a correction.

Sources:

• Coinbase Enters Bitcoin Treasury Top 10 Amid Push for Tokenized Stocks and Prediction Markets
• Top 100 Public Bitcoin Treasury Companies
• Coinbase Buys 2,509 BTC, Entering Top 10 Holders Surpassing Tesla
• Coinbase Increases Bitcoin Holdings, Plans Tokenized Stocks in U.S.
• Coinbase discloses 2,509 BTC acquisition in Q2, re-enters top 10 public bitcoin treasury companies ahead of Tesla

More Crypto News:

Coinbase, Amex Launch BTC Card as Stripe, USDC Join Shopify

Coinbase and American Express launch a Bitcoin rewards card offering up to 4% BTC back, while Stripe integrates USDC payments for Shopify merchants, accelerating mainstream crypto adoption.

CryptoHobbyCrypto Hobby

Coinbase Makes Historic $2.9 Billion Acquisition of Deribit

Coinbase acquires Deribit for $2.9 billion, marking the largest crypto deal to date and significantly expanding Coinbase’s presence in the global derivatives market and international operations.

CryptoHobbyCrypto Hobby

Coinbase’s $2.9 Billion Acquisition of Deribit: A Game Changer in Crypto Options Trading

Coinbase’s $2.9 billion acquisition of Deribit marks a significant shift in the crypto options trading landscape, enhancing its position in the global market.

CryptoHobbyCrypto Hobby

10 Best Meme Coins to Buy in 2025 - Top Meme Coins for Investing

We explore the top meme coins 2025 to acquire now and why they deserve your consideration. Let’s dive in!

CryptoHobbyCrypto Hobby

Elon Musk’s Political Ambitions: A Game Changer for Bitcoin and Dogecoin?

Explore how Elon Musk’s potential new political party could impact the US debt ceiling and the cryptocurrency market, specifically Bitcoin and Dogecoin.

CryptoHobbyCrypto Hobby