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Figma Blends Explosive Growth with Bitcoin Bets Ahead of Highly Anticipated IPO
Design app Figma has made a significant move by filing for an initial public offering (IPO) and simultaneously revealing substantial investments in cryptocurrencies. The company disclosed holding a staggering $70 million worth of shares in a Bitcoin ETF, signifying its confidence in the digital asset.
In addition to this, Figma announced plans to purchase an additional $30 million in Bitcoin using the USDC stablecoin. This strategic allocation aligns with the firm’s broader digital asset investment strategy and reinforces their conviction that Bitcoin is a suitable long-term reserve asset. By investing in Bitcoin ETFs, the company aims to hedge short-term price volatility and diversify its treasury portfolio.
Figma’s decision to prioritize cryptocurrency investments sends a strong signal about the growing acceptance of digital assets among large-cap companies. The company now joins the ranks of prominent tech firms that have already ventured into crypto, such as MicroStrategy and Square.
Source: coincentral.com
