- Coinbase now buys Bitcoin weekly, holding 9,270 BTC worth nearly $1B, making it the 10th-largest corporate holder.
- CEO Brian Armstrong reaffirms Bitcoin-first vision, calling investors to “go long” on BTC amid near-record prices.
- The move draws praise from Bitcoin advocates like Michael Saylor and David Bailey, signaling renewed institutional conviction.
Coinbase is stepping up its Bitcoin game, marking a bold return to its original roots as it deepens its commitment to the world’s leading cryptocurrency. CEO Brian Armstrong has confirmed that the U.S.-based crypto exchange is now purchasing Bitcoin (BTC) every week, a strategic move aimed at reinforcing its long-term belief in Bitcoin’s value proposition and aligning more closely with other institutional giants.
As of now, Coinbase holds 9,270 BTC, valued at approximately $995 million, making it the 10th-largest corporate Bitcoin holder globally. This new buying strategy, publicly endorsed by Armstrong, comes at a time when Bitcoin is hovering just below its all-time high, currently trading at $ 107,059 with a 24-hour trading volume of $ 45.68 and a market cap of $ 2.13 trillion. BTC price decreased 0.30% in the last 24 hours.
Armstrong has encouraged investors to “go long” on Bitcoin, signaling firm confidence in BTC’s future and its role as a long-term store of value. Coinbase’s renewed focus on Bitcoin is a nod to its early beginnings. Founded in 2012, the platform initially embraced a Bitcoin-only philosophy.
Armstrong was once critical of altcoins like XRP and Stellar (XLM), famously calling them distractions in a now-deleted 2014 tweet. However, Coinbase shifted course over time, adding Ethereum in 2016 and a broad array of ERC-20 tokens by 2018.
This diversification brought the exchange success but also criticism from Bitcoin maximalists who believed Coinbase had strayed too far from its original path. This weekly buying plan seems to be a course correction one that prominent figures in the crypto space have welcomed.
Coinbase Earns Praise for Bold Bitcoin Strategy
MicroStrategy’s Michael Saylor, whose firm owns over 592,345 BTC worth around $33 billion, reacted positively to the announcement, applauding Armstrong’s move with a rocket emoji on social media.
Also Read: Coinbase Expands Base Network with Wrapped ADA and LTC Tokens
Bitcoin Magazine CEO David Bailey went a step further, calling Armstrong the “G.O.A.T.” for reasserting Bitcoin’s dominance at the corporate level. Although Coinbase’s BTC stash remains significantly smaller than MicroStrategy’s, Armstrong’s commitment to consistent purchases signals a serious intention to close the gap over time.
It also reinforces a broader trend: more institutions are beginning to view Bitcoin not just as a speculative asset but as a hedge against inflation and a resilient form of long-term capital preservation. While the crypto market continues to buzz with altcoin narratives and new blockchain innovations, Coinbase’s actions send a strong message.
For serious institutional players, Bitcoin remains the bedrock of the digital asset ecosystem. And with weekly BTC buys now part of its corporate playbook, Coinbase is doubling down on its foundational belief in Bitcoin not just as a product but as the future of money.
Also Read | Ark Invest Sells $12.5 Million Coinbase Stake as Stock Hits New High: Report
