Tesla Tapped Coinbase for $1.5B Bitcoin Buy: Report

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.

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish, a cryptocurrency exchange, which in turn is owned by Block.one, a firm with interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets including bitcoin and EOS. CoinDesk operates as an independent subsidiary, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.

Danny Nelson

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.

10 Years of Decentralizing the Future