The offering, announced Tuesday, is split evenly between notes maturing in 2029 and 2032, and is targeted at qualified institutional buyers. The exchange also plans to offer an additional $300 million in notes as part of the deal’s expansion.
Although Coinbase hasn’t officially confirmed a Bitcoin purchase, its filing hints at using proceeds for general purposes, including acquisitions and investments—which some believe could include digital assets.
This comes as Coinbase already ranks among the top public Bitcoin holders globally, with over 11,700 BTC on its books, valued at $1.26 billion.
The potential move would further blur the lines between traditional finance and crypto, as Wall Street’s appetite for digital assets continues to grow.
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