Figma Eyes Further Bitcoin Exposure in Run-Up to Hopeful NYSE Debut
2025-07-02 02:51:25
Main Idea
Figma filed to go public on the NYSE and disclosed a $55 million investment in a Bitcoin ETF, with plans to invest an additional $30 million in Bitcoin using its USDC stablecoins.
Key Points
1. Figma filed to go public on the NYSE under the ticker "FIG" and disclosed a $55 million investment in a Bitcoin ETF managed by Bitwise.
2. The investment in the Bitwise Bitcoin ETF was approved by Figma’s board on March 3, 2024, and grew to $78.8 million in unrealized gains before declining to $69.5 million by March 31, 2025.
3. Figma plans to invest an additional $30 million in Bitcoin using its existing USDC stablecoins, citing Bitcoin’s volatility but intending to reinvest its stablecoin holdings.
4. Figma reported $749 million in revenue for 2024 and $228.2 million for the first quarter of 2025, a 46% increase from the same period the previous year.
5. The company’s Bitcoin holdings accounted for roughly 4.5% of its total $1.54 billion in assets, with plans to grow this further using its USDC reserves.
Description
Figma’s $69.5 million Bitcoin ETF holding now accounts for 4.5% of its cash and securities portfolio, the company revealed Tuesday.
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