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Figma Files for IPO, Discloses $70 Million Bitcoin ETF Holdings and Plans to Invest $30 Million More
Design software company Figma has taken a significant step forward by filing for an initial public offering (IPO) with the Securities and Exchange Commission (SEC). The move comes as the firm’s financial performance continues to impress, posting a 46% year-over-year revenue increase in Q1. This milestone underscores Figma’s remarkable growth trajectory.
In a surprising twist, Figma’s S-1 filing revealed an astonishing $70 million worth of shares held in a Bitcoin ETF, accounting for approximately 4% of its liquid reserves. Furthermore, the company plans to invest an additional $30 million in Bitcoin, further solidifying its commitment to digital assets.
This strategic allocation reflects a growing trend among tech companies embracing crypto exposure within their capital reserves. By doing so, Figma is placing itself among the early adopters of regulated investment vehicles. Notably, this move comes as institutions are increasingly recognizing Bitcoin’s potential as a long-term store of value and diversification tool for their portfolios.
Figma’s treasury strategy now incorporates not only cash and bonds but also digital assets like Bitcoin ETFs. This decision highlights Figma’s willingness to adapt and evolve its financial approach in line with the rapidly changing cryptocurrency landscape.
Source: coincentral.com
