Coinbase Sumabog ng 18% sa Kabila ng ₱38.61 bilyon ($666.7 milyon) na Q4 Loss

18%. That's how much Coinbase stock jumped on February 13, 2026, even as the exchange reported a ₱38.61 billion ($666.7 million) loss in Q4 2025—its first quarterly loss in several quarters.

The surge came as U.S. markets rotated into risk assets and crypto stocks led the rebound after weeks of selling pressure. Strategy, the company formerly known as MicroStrategy, rose 10% the same day. Circle climbed roughly 7% while Galaxy Digital gained 6.5%. Bitcoin itself had dropped about 30% over the past month, dragging trading volumes down and squeezing Coinbase's main revenue driver.

Coinbase shares had fallen roughly 34% year-to-date before the rally, weighed down by lower trading activity as crypto prices weakened. CEO Brian Armstrong sold more than 1.5 million shares worth approximately ₱31.56 billion ($545 million) during the downturn, describing the move as diversification. Analyst firm Monness Crespi & Hardt downgraded Coinbase from buy to neutral with a ₱6,950 ($120) price target.

Strategy bought more than 1,100 BTC this week at an average price near the high-₱4,054,073 ($70,000) range, spending approximately ₱5.21 billion ($90 million) total. Executive Chairman Michael Saylor publicly defended the bitcoin strategy, saying the company does not intend to sell bitcoin through downturns and arguing Strategy is positioned to withstand extended volatility. The company reported a multi-billion dollar quarterly loss largely tied to mark-to-market declines on its bitcoin holdings, which now total 601,550 BTC—over 2.8% of bitcoin's total supply.

Strategy rebranded from MicroStrategy in February 2025, shifting its identity to a bitcoin development company. The firm became the first U.S. public company to add bitcoin to its balance sheet in August 2020 with an initial purchase of 21,454 BTC for ₱14.48 billion ($250 million). Its shares have swung dramatically alongside bitcoin's price, falling hard during the broader crypto sell-off before rebounding as markets stabilized. Strategy now holds 601,550 BTC—nearly 12 times more than Marathon Digital's 50,000 BTC.