Strategy Surpasses Coinbase in Market Cap Amid Crypto Presale Buzz

MicroStrategy, now rebranded as Strategy, has surpassed Coinbase in market capitalization. This success is largely attributed to its treasury-centric strategy focused on accumulating Bitcoin and other cryptocurrencies. As of Q3 2025, Strategy reported a $3.9 billion fair-value appreciation from its crypto holdings, surpassing the returns of firms like Coinbase.

Strategy's market cap now exceeds Coinbase's $3.7 billion.
The firm is being considered for the S&P 500 index inclusion.
US Treasury guidance exempts unrealized gains from tax, bolstering Strategy’s financials.

This development underscores the effectiveness of holding significant cryptocurrency assets for corporate growth.