Bitcoin (BTC) price was recorded at 24,048,376.92 in Pakistani Rupees (PKR)

The price of Bitcoin (BTC) was recorded at 24048376.92 in Pakistani Rupees (PKR) on Thursday, March 20, 2025

Crypto exchange Coinbase on Thursday beat estimates for fourth-quarter profit, driven by higher trading volumes in bitcoin and other digital tokens following the U.S. election.

The company’s stock rose 7% in extended trading.

Revenue rose to $3.12 billion from $1.31 billion a year earlier, and edged past analysts’ average estimate of $3.07 billion, according to Refinitiv.

Net income attributable to common stockholders came to $1.80 per share, compared with a loss of $7.54 per share a year earlier.

Excluding items, Coinbase earned $1.98 per share, beating expectations of $1.51 per share.

“We are pleased to report strong fourth quarter results that capped off a banner year for Coinbase,” said CEO Brian Armstrong.

“The crypto industry continues to grow rapidly, and we are well-positioned to capture this opportunity with our leading platform and products.”

Unprecedented interest in crypto, fueled by Donald Trump’s victory in the November presidential election, pushed BTC beyond $100,000 in the quarter as investors anticipated more crypto-friendly policies under the new administration.

At the beginning of 2020, BTC was trading around the $7,000 mark.

Crypto-related stocks and products have soared in recent months as retail traders, flush with government stimulus and battered by the pandemic, poured into the booming sector.

Coinbase’s operating expenses rose to $2.77 billion from $1.09 billion, while its net loss from continuing operations was $566 million, compared with a profit of $2.96 billion.

The company’s institutional volumes were $407 billion, up from $181 billion a year earlier.

Coinbase also announced a new stock buyback program of up to $1 billion of Coinbase common stock over the next 24 months.