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Robinhood Won’t Hold Bitcoin Despite Strong Market Correlation, Says CEO
In a recent statement, Vlad Tenev, Chief Executive Officer at Robinhood, has confirmed that the company will not be holding Bitcoin as part of its internal reserves. Despite the strong market correlation between Robinhood’s stock and Bitcoin, the trading platform is committed to maintaining a conservative approach towards digital assets.
While there have been internal discussions about the possibility of holding Bitcoin, Tenev emphasized that these talks have not led to any concrete plans or actions. According to him, the company’s focus remains on providing services for buying and selling cryptocurrencies, rather than investing in them directly.
Interestingly, Robinhood’s stock has seen a remarkable 202% increase this year, which is closely tied to the growth of Bitcoin (up by 110%). This correlation is attributed to the growing intersection between traditional trading platforms and digital assets.
Source: crypto-economy.com
