According to the S-1 filing that Coinbase posted on Thursday, the crypto exchange holds around $230 million in Bitcoin, considering the crypto asset’s recent price rise. The firm also made a profit of $322 million in 2020.
What’s also worth noting is that Coinbase has been holding crypto in its treasury since 2012, as Brett Tejpaul, head of institutional sales at Coinbase, said in a blog post on Wednesday. Tejpaul also mentioned Coinbase’s plans to maintain its investment in cryptocurrencies since the firm believes in the crypto’s long-term potential.
Bitcoin is not the only cryptocurrency the firm holds, though. Coinbase also holds $53 million in Ethereum, $48.9 million of stablecoin USDC, as well as $34 million worth of altcoins.
The recent reports thus turn Coinbase into the fourth company on the list of those that hold Bitcoin on their balance sheet. The other three are MicroStrategy with $4.6 billion of BTC, Tesla with $2.6 billion of BTC, and Galaxy Digital, which, according to a Forbes report from January 2020, holds $569 million of BTC.
Based on data from Decrypt, the fifth and sixth places are held by payments company Square with $220 million in Bitcoin and Marathon Patent Group with $150 million of BTC.