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Sources Say Coinbase Helped Tesla Execute Bitcoin Purchases

Mary Liu

Summary: As Bitpush previously reported, Tesla announced a $1.5 billion investment in Bitcoin earlier this month.  According to The Block, Sources familiar with the deal revealed that Coinbase helped Tesla buy Bitcoin in the first week of February (a period of several days), and the order was distributed to multiple OTC trading desks.  The source also ...

As Bitpush previously reported, Tesla announced a $1.5 billion investment in Bitcoin earlier this month. 

According to The Block, Sources familiar with the deal revealed that Coinbase helped Tesla buy Bitcoin in the first week of February (a period of several days), and the order was distributed to multiple OTC trading desks. 

The source also said that Coinbase's main brokerage department has more than five Fortune 500 companies as clients.

The support of large companies is in line with Coinbase’s pre-IPO valuation, Coinbase is valued at $77 billion on the Nasdaq private market, as reported by Coindesk. 

By Mary Liu

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