Coinbase has said that it has 10,000 institutional investors on the platform. Head of COINBASE Institutional, Brett Tejpaul, disclosed this while speaking at an event for corporate investors called MicroStrategy World. The top Coinbase executive also revealed MicroStrategy’s co-founder and chief executive officer, Michael Saylor, as one of its institutional investors. Other listed institutional investors on the platform include Grayscale, Tudor Investment, Third Point, Pimco, Wisdom Tree, and One Rive. Coinbase’s lineup also includes PNC Bank, Elon Musk’s duo of companies Tesla and SpaceX, and countless pensions, private banks, and family offices.
Tejpaul stated that the impressive number of notable clients further underscores its position as one of the biggest crypto platforms in the world. He also pointed out that his company’s team has also grown from 5 people to 150 people to keep up with BTC institutional interest.
Coinbase experienced a surge in crypto transactions to more than $1 million. The leading crypto exchange platform went from facilitating about 1,300 transactions per day to over 5,500 transactions per day. Tejpaul explains that he does not put this huge number of transactions past any one group of individuals currently in Coinbase’s clientele. However, he admitted that he typically associates such large transfers with institutional investors.
