Finance

Coinbase’s crypto holdings jumped ninefold last year as bitcoin surged

0


Brian Armstrong, co-founder and chief executive officer of Coinbase Inc.

David Paul Morris | Bloomberg | Getty Images

Coinbase isn’t just enabling the trading of a bunch of bitcoin – it’s holding cryptocurrencies on its books.

In the company’s prospectus for public market investors filed on Thursday, Coinbase disclosed ownership of $316.1 million worth of crypto assets on its balance sheet as of Dec. 31, up ninefold from $33.9 million at the end of 2019.

Bitcoin surged in value by over 300% last year, while the digital currency ethereum jumped close to 500%, and they’ve both extended their rally to start 2021. While Coinbase makes most of its money by allowing investors to trade, store and…



Source cnbc.com

Virgin Galactic SPCE earnings Q4 2020

Previous article

Why the unemployment rate and jobless claims could be misleading

Next article

You may also like

Leave a Reply

avatar
  Subscribe  
Notify of

More in Finance