Coinbase (COIN) Soars to All-Time High as CEO Bets Big on Bitcoin—Again

Coinbase stock just shattered records—proving even Wall Street can't ignore crypto's gravitational pull.

The Bitcoin Double-Down

CEO Brian Armstrong's unwavering Bitcoin focus fuels the rally, betting the house on crypto's original disruptor while rivals chase shiny new tokens.

Market Irony Alert

Traders pile into COIN as Bitcoin ETFs suck up actual BTC—because why hold the asset when you can own the middleman? Classic finance.

What's Next?

With institutional adoption accelerating and retail FOMO simmering, Coinbase's gamble might just pay off... until the next 'black swan' sends everyone scrambling for stablecoins.

TLDR

• Coinbase stock hits all-time high of $375.07, up over 1,000% from 2022 lows
• CEO Brian Armstrong confirms weekly Bitcoin purchases, calling BTC a future strategic asset for governments
• Bernstein raises price target to $510, calling Coinbase the “one-stop Amazon” of crypto services
• Company joins S&P 500 in June, becoming the only crypto firm in the index
• Bipartisan U.S. legislation and regulatory clarity drive institutional confidence in crypto markets

Coinbase shares closed at a record $375.07 on Thursday, crushing its previous all-time high of $357.39 from November 2021. The crypto exchange has gained over 1,000% since hitting bottom in late 2022.

CEO Brian Armstrong added fuel to the rally by confirming his weekly Bitcoin buying routine on social media. He described the purchases as part of a long-term investment strategy centered on Bitcoin’s role as a store of value.

We're buying more bitcoin every week. Long #Bitcoin https://t.co/LleWBXGYTG

— Brian Armstrong (@brian_armstrong) June 26, 2025

Armstrong went further, predicting that governments will soon add Bitcoin to their balance sheets as a strategic asset. El Salvador and the Central African Republic have already made Bitcoin legal tender or added it to reserves.

The CEO’s Bitcoin advocacy has remained steady through multiple market cycles. His public support reflects a broader trend among crypto executives who view Bitcoin as protection against inflation and economic uncertainty.

Analysts See Coinbase as Crypto’s Amazon

Bernstein analysts lifted their price target to $510 from $310, slapping an Outperform rating on the stock. They called Coinbase the “one-stop Amazon” of crypto services in a Wednesday research note.

The analysts highlighted Coinbase’s dominant position in U.S. crypto trading. The company also operates the largest stablecoin business among exchanges and serves as custodian for most U.S. spot Bitcoin ETFs.

“Coinbase is the most misunderstood company in our Crypto coverage universe,” wrote Bernstein analyst Gautam Chhugani. The firm praised Coinbase’s expansion beyond simple trading into institutional custody, Base blockchain services, and Prime lending.

Armstrong himself promoted the company’s reach on Wednesday morning. He noted that Coinbase powers crypto integrations for roughly 200 banks, brokerages, fintechs, and payment companies.

The analysts dismissed bear cases against Coinbase. They pointed out that the company’s market share has held steady despite new competition entering the space.

Traditional brokerage competition remains months away from launch. That timeline feels like “an eternity on crypto timelines,” according to Chhugani’s team.

S&P 500 Entry Marks Mainstream Acceptance

Coinbase joined the S&P 500 Index in June as the only cryptocurrency company in the benchmark. The inclusion reflects the company’s growing integration with traditional finance.

The stock has surged over 40% since the Senate passed the GENIUS Act. This bipartisan bill WOULD create a federal framework for stablecoins, which are digital tokens backed by assets like the U.S. dollar.

President Trump’s administration is developing new national crypto policies. These discussions include forming a national crypto reserve, which could benefit companies like Coinbase.

The Securities and Exchange Commission has started providing clearer guidance to crypto firms. This regulatory clarity is boosting investor confidence across the sector.

Coinbase has actively worked with lawmakers and agencies to shape crypto regulations. The company’s lobbying efforts are helping bridge the gap between digital assets and traditional finance.

Sean Farrell from Fundstrat believes there’s more upside ahead for Coinbase. He told investors on Tuesday that opportunities remain despite the stock’s recent rally.

Other crypto stocks have also benefited from the regulatory momentum. Circle, which issues USDC stablecoins, has jumped over 600% since its June IPO.

Robinhood is up 126% year-to-date, while MicroStrategy has gained 32% over the same period. The broader crypto rally is lifting all boats in the space.

Coinbase’s revenue streams now include trading fees, custody services, and corporate partnerships. This diversification has helped the company weather past industry disruptions better than competitors.

The company’s Base blockchain services represent a growing business line. Institutional custody and Prime lending are also expanding rapidly as more traditional players enter crypto.

Armstrong’s weekly Bitcoin purchases demonstrate his confidence in the asset’s long-term prospects. His prediction about government adoption could prove prescient as more nations explore digital currency strategies.