Figma, the popular design software company, has revealed in its IPO filing that it holds nearly $70 million in Bitcoin Exchange-Traded Funds (ETFs), while allocating an additional $30 million in stablecoins for future Bitcoin purchases.
Financial Breakdown of Figma's Bitcoin Strategy
Current Bitcoin ETF Holdings
- Investment Amount: $55 million in Bitwise Bitcoin ETF (BITB) on March 3, 2024
- Current Value: $69.5 million (as of March 31, 2024)
- Unrealized Gain: 26% ROI
Future Bitcoin Allocation
- Stablecoin Reserve: $30 million in USDC
- Purpose: Designated for future Bitcoin acquisitions per board approval on May 8, 2025
Hunter Horsley, Bitwise CEO, applauded Figma’s move:
"Allocating 5% of treasury reserves to Bitcoin sets a precedent for corporate adoption. Expect more enterprises to follow."
Background: Failed Adobe Acquisition
- 2022 Deal: Adobe proposed a $20 billion acquisition of Figma.
- Regulatory Hurdles: Blocked by EU and UK authorities over monopoly concerns.
- Termination Outcome: Adobe paid $1 billion in reverse termination fees (December 2023).
Corporate Crypto Adoption Trends
Recent Examples of Bitcoin Accumulation
| Company | Investment | Total BTC Holdings |
|---|---|---|
| Strategy | $531 million | 597,000 BTC |
| Metaplanet (Japan) | $108 million | 1,005 BTC |
Emerging Interest in Ethereum
- BitMine Immersion Technologies: Raised $250 million to launch an Ethereum reserve.
👉 Explore how top companies integrate crypto into their treasuries
FAQs About Corporate Bitcoin Holdings
Q: Why are companies buying Bitcoin ETFs?
A: ETFs offer regulated exposure to Bitcoin without direct custody complexities.
Q: How does Figma’s investment compare to MicroStrategy’s?
A: Figma’s $70 million is smaller than MicroStrategy’s multi-billion-dollar holdings but signals growing mainstream adoption.
Q: What’s the tax implication for corporate crypto holdings?
A: Varies by jurisdiction; long-term holdings often qualify for capital gains treatment.