Figma joins the Bitcoin treasury club 🚀
Figma, a popular collaborative design platform, has filed for an IPO, simultaneously revealing a significant position in Bitcoin. The company holds $69.5 million in spot Bitcoin ETFs and recently approved a $30 million investment plan in Bitcoin, purchasing the equivalent in USDC for conversion.
This adds Figma to the growing list of public companies that are adopting Bitcoin as a treasury asset. This trend is gaining momentum as cryptocurrency-related stocks, such as Coinbase, Circle, and MicroStrategy, have outperformed many altcoins this year:
- Coinbase reached a record $380 (up 53% since the beginning of the year)
- Circle gained 10% after its stock market debut
- MicroStrategy increased by 25% with a 91% chance of joining the S&P 500
Looking at the latest market data, Bitcoin has been trading in the range of $105,000 to $107,000 with healthy trading volumes, while USDC maintains a stable peg to the dollar.
