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Robinhood Won’t Hold Bitcoin Despite Strong Market Correlation, Says CEO
Robinhood has considered the possibility of holding Bitcoin within its internal reserves, but has no current plans to do so. According to Vlad Tenev, the company’s CEO, while there have been discussions about owning the cryptocurrency, these talks are merely speculative and not a part of their current strategy.
Although Robinhood is not considering investing in Bitcoin at this time, it appears that its stock is highly correlated with the digital asset’s performance. Despite not holding any Bitcoin itself, the trading platform’s shares have seen significant growth in recent times, increasing by an impressive 202% over the past year. This growth mirrors the rise of Bitcoin, which has surged by a substantial 110%.
Source: crypto-economy.com
