Figma Announces Cryptocurrency Offering Through Public Bitcoin Listing
Figma, the popular design software company, has announced its plans to invest in Bitcoin, joining over 100 companies that have Bitcoin on their balance sheets. This move comes as institutional adoption of Bitcoin continues to gain momentum, with Bitcoin Spot ETFs seeing over $13 billion in inflows this year.
On March 3, 2024, the board of Figma approved an initial investment of $55 million in the Bitcoin ETF from Bitwise (BITB). Since then, Figma has also planned to make a further Bitcoin purchase of $30 million directly. As of now, Figma holds $30 million in stablecoin USDC, which it intends to convert into Bitcoin.
The decision to invest in Bitcoin was not a sudden one. Tristan, the Editor-in-Chief at Blocktrainer.de, has been actively involved with Bitcoin since 2020. Tristan, who holds a degree in economics and has journalistic experience outside the Bitcoin sphere, has a background in exploring libertarian economic theory.
Figma's Bitcoin position has already proven to be a shrewd move, with the price of Bitcoin rising by approximately 30% since Figma's position was disclosed, making it worth around $90 million today. As of March 31, 2024, Figma held Bitcoin Spot ETFs worth $69.5 million.
The company's valuation stands at $12.5 billion, a testament to its success in the design software industry. Upon going public this year, Figma will join the ranks of publicly traded companies holding Bitcoin, such as Tesla, Rumble, and Block.
Strategy, a business intelligence software company, has taken this a step further. It now holds over $60 billion in Bitcoin and has qualified for inclusion in the S&P 500 index.
It's worth noting that Bitcoin Treasury Companies, like Figma, aim to acquire as many Bitcoin as possible. They often issue new shares or take on debt to do so. However, there may be many more well-known private companies holding Bitcoin but not publicly disclosing it, especially if they're not actively pursuing an IPO.
In the case of German companies, there is no publicly known information about specific companies holding Bitcoin in their accounts without openly declaring it. Most German companies either do not hold Bitcoin or disclose their positions, and investigations into undisclosed holdings are not publicly documented. The German government itself has held and sold confiscated Bitcoin, but no private company is confirmed to hold Bitcoin secretly.
On May 8, 2025, the board of Figma approved an additional investment of $30 million in Bitcoin, further solidifying its commitment to the cryptocurrency. As Figma continues to navigate the world of Bitcoin, it will be interesting to see how its investment strategy evolves.
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