Share this article
Tesla Tapped Coinbase for $1.5B Bitcoin Buy: Report
Coinbase is emerging as a major player in corporate America's march toward bitcoin.
By Danny Nelson
Updated Sep 14, 2021, 12:13 p.m. Published Feb 17, 2021, 6:42 p.m. 1 min read
Coinbase's institutional trading wing handled electric car-maker Tesla's $1.5 billion bitcoin investment earlier this month, according to The Block.
The report illustrates Coinbase's growing role as corporate America marches deeper into crypto. Coinbase handled MicroStrategy's early allocations; The Block reported it has five Fortune 500 firms as clients.
CoinDesk could not independently confirm the report at press time Wednesday. Coinbase declined to comment.
Read more: Coinbase Brokered MicroStrategy’s $425M Bitcoin Purchase, Exchange Says
More For You
CNBC reported Tuesday that Musk is discussing a merger between Tesla and SpaceX that would tie his tech empire closer together and instantly create the world’s fifth-largest corporate bitcoin treasury, worth $3.3 billion.
What to know:
- Elon Musk is exploring a potential merger of Tesla and SpaceX, a move that would deepen operational overlap in areas such as power infrastructure and AI-related computing.
- A combined Tesla-SpaceX entity would control about 30,221 bitcoin, worth roughly $3.3 billion, making it the fifth-largest public corporate holder of the cryptocurrency.
Top Stories
