Coinbase may use funds from a $2 billion note sale to grow its Bitcoin holdings and expand its business.
- The note offering targets institutional investors only.
- Coinbase could buy more Bitcoin with the raised money.
- This may signal more interest in crypto from traditional markets.
Coinbase Launches $2 Billion Convertible Note Sale
On Tuesday, Coinbase announced a $2 billion private sale of convertible senior notes. These are promises to repay money with interest. The offering is aimed at qualified institutional buyers, not the general public. The sale will include two parts: $1 billion due in 2029 and $1 billion due in 2032.
The notes are unsecured, meaning they are not backed by company assets. Interest will be paid two times a year. Buyers may get extra notes worth up to $300 million if they buy early.
How Coinbase Might Use the Money
Coinbase plans to use the money for general company needs. This could include day-to-day expenses, buying other companies, and investing in new products or tools. The company paper also mentioned “possible Bitcoin purchases” as a use of funds.
If confirmed, Coinbase would become the first company in the S&P 500 to buy Bitcoin using proceeds from a note offering. The move shows a shift in how traditional investors may view crypto assets.
Coinbase’s Current Bitcoin Holdings
Coinbase already holds 11,776 Bitcoin, worth around $1.26 billion. In the second quarter of 2025 alone, it bought 2,509 more Bitcoin, worth over $288 million. The move places Coinbase among the top ten public holders of Bitcoin in the world.
A Growing Trend Among Crypto Firms
Coinbase is not alone. Other crypto-focused firms like Strategy and Grayscale are also raising money from traditional investors. Strategy recently launched a $4.2 billion ATM stock offering to buy more Bitcoin. Grayscale filed for an IPO to offer its shares to the public.
These trends show that more crypto companies are turning to traditional financial tools to grow. This also signals a deeper link between Wall Street and digital assets.
Source: cointelegraph.com
