Coinbase (NASDAQ:COIN) Stands Tall Among Companies Hoarding Bitcoin Like There’s No Tomorrow

Cryptocurrencies have been surging since the beginning of the year. After a small drop in January, Bitcoin has been on an upward trajectory and hasn’t looked back since.

Coinbase Global, Inc. (NASDAQ:COIN) is among the companies hoarding bitcoin like there’s no tomorrow. We’ve scanned the internet to find companies listed on NYSE and NASDAQ that hold Bitcoin and found their total holdings through different sources, including press releases, 10-Q, 10-K, and 8-K filings. We chose 10 companies that hold the largest sum of Bitcoin and listed the stocks in ascending order of their holdings. We also mentioned the hedge fund sentiment around each stock.

Coinbase Global, Inc. (NASDAQ:COIN) offers financial infrastructure and technology for the global crypto economy. It provides a primary account for consumers, a marketplace for institutional crypto transactions, and tools for developers to create crypto products and securely process payments. As of September 30, the company recorded $185 billion in volume traded and $273 billion in safeguarded assets.

Coinbase (NASDAQ:COIN) has supported pro-crypto legislation, such as the FIT 21 bill, and is investing in advocacy efforts like FairShake and Standwithcrypto.org, which aims to mobilize millions of crypto advocates. It plans to continue supporting these initiatives and expand its efforts, with a $25 million commitment to FairShake ahead of the 2026 midterms. This ongoing push for regulatory clarity is seen as essential to unlocking new sources of capital and innovation in the crypto space.

The company is also focused on expanding crypto’s role in people’s daily lives beyond just trading. Key initiatives include the adoption of stablecoins for faster, cheaper global payments, smart wallets for easier onboarding, and the Base Layer 2 solution for efficient, low-cost transactions. These efforts aim to increase crypto’s accessibility and functionality, with the goal of reaching 1 billion users worldwide. As of September 30, the company holds 9,363 Bitcoin, 119,696 Ethereum, and other crypto assets valued at $341.259 million.

Overall, COIN ranks 5th on our list of companies hoarding bitcoin like there’s no tomorrow. While we acknowledge the potential of COIN as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than COIN but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.