Figma's $70M Bitcoin ETF Bet
Figma's Bold Bitcoin Investment
In its recent IPO filing, design software company Figma disclosed a substantial investment in Bitcoin exchange-traded funds (ETFs) and a plan to acquire more Bitcoin using stablecoins. This strategic move highlights the growing corporate interest in Bitcoin as a treasury asset.
Figma's filing with the Securities and Exchange Commission (SEC) revealed $69.5 million invested in the Bitwise Bitcoin ETF (BITB) as of March 31, 2025, representing a 26% unrealized profit on its initial $55 million investment made on March 3, 2024. The company also holds $30 million in USDC stablecoins, earmarked for future Bitcoin purchases.
The Board of Directors approved this Bitcoin investment strategy on May 8, 2025, indicating a deliberate and considered approach to integrating Bitcoin into its financial strategy.
Strategic Stablecoin Holding
Figma's holding of $30 million in USDC demonstrates a proactive approach to Bitcoin acquisition. This stablecoin reserve allows the company to capitalize on market opportunities and execute its Bitcoin investment strategy at favorable prices.
Corporate Crypto Adoption on the Rise
Figma's move reflects a broader trend of companies adding crypto assets to their balance sheets. Recent examples include:
- Strategy (formerly MicroStrategy) purchasing $531 million worth of Bitcoin.
- Metaplanet acquiring 1,005 BTC for $108 million.
- BitMine Immersion Technologies securing $250 million to expand its Ether treasury.
This demonstrates a growing confidence in cryptocurrencies as a long-term investment strategy and diversification tool for established corporations. Codeum, with its expertise in smart contract audits, KYC verification, and custom smart contract development, assists companies navigating the complexities of blockchain technology.
Figma's Path to IPO and Failed Adobe Acquisition
Figma is aiming for a New York Stock Exchange listing under the ticker symbol "FIG." It's worth noting that the company's IPO follows a failed acquisition attempt by Adobe in 2023. The deal, valued at $20 billion, was blocked by regulators, ultimately resulting in a $1 billion reverse termination fee for Figma.
Disclaimer: This article provides information and analysis for educational purposes only. It is not financial advice. Conduct thorough research and consult with a financial advisor before making any investment decisions.