Key takeaways
Why Coinbase and Strategy Earnings Matter for Bitcoin Investors?
Both companies are expanding their BTC holdings, indicating that institutional conviction remains strong even as prices decline.
Could this trend affect Bitcoin’s next move?
Continued balance sheet accumulation could anchor the BTC price in the $105,000 to $110,000 zone and trigger a rally if demand remains strong.
Coinbase and Strategy Inc. [formerly MicroStrategy] posted strong earnings in Q3 2025. The earnings report signals a deepening wave of institutional Bitcoin accumulation even as the asset trades lower near $107,000.
Coinbase doubles
Coinbase reported $1.8 billion in revenue and $433 million in net income, its strongest quarter since 2021.
executive director Brian Armstrong confirmed the company’s growing exposure, stating: “Coinbase is long Bitcoin. Our holdings increased by 2,772 BTC in the third quarter, and we continue to buy more.”
Source: X
According to data from Bitcoin Treasuries, Coinbase now owns 14,548 BTC, making it the ninth largest holder.
The exchange’s stablecoin revenue rose to $355 million, while derivatives trading volume surpassed $840 billion, earning Coinbase the top position among U.S. exchanges offering 24/7 perpetual contracts. Its assets in custody now amount to $300 billion.
The Windfall of Bitcoin-Led Strategy
strategy inc. recorded 2.8 billion dollars in quarterly profits and $12.9 billion in unrealized BTC profits. The company now holds 640,808 BTC, valued at around $70.9 billion at current market prices.
Remains the largest corporate holder of BTC, according to data from Bitcoin Treasury Bonds.
The company is targeting a 30% annual BTC return by the end of the year, a stark contrast to traditional treasury strategies, reflecting its commitment to Bitcoin as a primary reserve asset.
Institutional accumulation deepens
Reports from Coinbase and Strategy show that corporations are no longer just supporting ETFs, but are also purchasing Bitcoin directly and expanding crypto-linked income streams.
This trend coincides with stablecoin market growth surpassing $160 billion, record on-chain derivatives volumes, and an increase in corporate treasury exposure.
Together, these highlight the growing institutional infrastructure surrounding Bitcoin.
bitcoin outlook
Bitcoin is down about 2% in the last 24 hours to $107,585, despite institutional optimism. On-chain data and exchange flows suggest continued accumulation in the $106,000 to $115,000 range.
Source: TradingView
A move above $110,000 could reignite momentum if these corporate inflows persist into November.
