Design software program firm Figma revealed in a regulatory submitting that it owns practically $70 million value of shares in Bitcoin exchange-traded funds and has put aside $30 million in stablecoins to purchase Bitcoin.
Figma filed with the Securities and Trade Fee on Tuesday to go public on the New York Inventory Trade underneath the ticker image “FIG,” with the paperwork detailing the agency’s present monetary place.
The submitting mentioned Figma invested $55 million into the Bitwise Bitcoin ETF (BITB) on March 3, 2024, and its worth stood at $69.5 million with an unrealized revenue of 26% as of the quarter ended on March 31.
Figma has $30 million in stablecoins for Bitcoin buys
Figma mentioned it additionally holds $30 million value of the stablecoin USDC (USDC), which it intends to make use of to buy Bitcoin.
“On Might 8, 2025, the Board of Administrators permitted an funding of $30.0 million in Bitcoin. Subsequently, the Firm bought 30.0 million USD Coin (USDC), a stablecoin, for $1 per USDC totaling $30.0 million,” the submitting reads. ”The Firm intends to re-invest its stablecoin holdings into Bitcoin at a later date.”
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Bitwise CEO Hunter Horsley applauded Figma for holding 5% of its stability sheet in Bitcoin.
“Increasingly companies are going to personal Bitcoin as a part of their treasury,” he added.
Figma’s failed acquisition by Adobe
In 2022, the Nasdaq-listed design software program big Adobe seemed to accumulate Figma for $20 billion; nonetheless, the European Fee and the UK Competitors and Markets Authority knocked again the deal over issues that Adobe would kind a monopoly and that the deal was overvalued.
The transaction was referred to as off in December 2023, with Adobe having to pay $1 billion in money to Figma as a reverse termination charge.
Firms proceed to extend their crypto reserves
Demand from firms to carry crypto of their respective treasury reserves has been on the rise in latest months.
On Monday, Technique, previously MicroStrategy, revealed that it had bought BTC worth $531 million, boosting its holdings to 597,000 BTC.
In the meantime, Japanese Bitcoin treasury agency Metaplanet purchased 1,005 BTC for $108 million, thereby surpassing Cleanspark to turn out to be the fifth-largest company holder of Bitcoin.
Bitcoin just isn’t the one asset companies are flocking to, as corporations have began accumulating ETH for his or her treasury reserves.
Mining agency BitMine Immersion Applied sciences introduced that it had raised $250 million via private placement to jumpstart its Ether treasury.
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