Tesla Tapped Coinbase for $1.5B Bitcoin Buy: Report

Coinbase is emerging as a major player in corporate America's march toward bitcoin.

Feb 17, 2021, 6:42 PM

Updated Sep 14, 2021, 12:13 PM

Tesla CEO Elon Musk

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.

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CoinDesk could not independently confirm the report at press time Wednesday. Coinbase declined to comment.

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