Figma Contemplates Increasing Involvement with Bitcoin as Anticipation for Potential NYSE Launch Grows
In a strategic move to diversify its assets and embrace digital currencies, design platform Figma has announced plans to increase its Bitcoin holdings. The company, which went public on the NYSE under the ticker "FIG." in 2023, has already invested $55 million in a Bitcoin ETF managed by Bitwise and now intends to buy more Bitcoin, using its existing USDC stablecoins as an intermediate step.
The initial investment, made in March 2022, has seen significant growth. By March 31, 2023, the ETF had unrealized losses of approximately $9.3 million. However, by the end of December 2022, the ETF had unrealized gains of $78.8 million. As of July 1, 2023, Figma's initial investment plus appreciation in the ETF was near $69.5 million, accounting for roughly 4.5% of its total $1.54 billion in cash and securities.
Figma's decision to invest in a Bitcoin ETF positions the company among a growing list of companies adding Bitcoin to their balance sheets. This move demonstrates Figma's confidence in digital assets as part of its long-term treasury diversification strategy.
Founded in 2012 as a browser-based interface design tool, Figma has grown into a widely used platform for cross-functional product teams. The company reported $749 million in revenue for 2024, marking a 46% increase from the same period in 2024. The planned acquisition by Adobe was called off in December 2023 after facing regulatory scrutiny in the EU and the U.K., marking a new chapter for Figma following the collapse of the deal.
Morgan Stanley, Goldman Sachs, Allen & Company, and J.P. Morgan will act as joint leads for Figma's offering. The IPO represents a significant step for the company, which has been growing steadily since its inception. With its strategic investment in Bitcoin and its successful IPO, Figma is poised to continue its growth and innovation in the digital design world.
[1] Figma's revenue for the first quarter of 2025 increased to $228.2 million, a 46% rise from the same period in 2024. [2] In 2024, Figma was valued at $12.5 billion through a secondary tender offer. [3] Figma disclosed a $55 million investment in a Bitcoin ETF managed by Bitwise. [4] Figma intends to grow its Bitcoin holdings by a further 2% using its USDC reserves.
- Figma's strategic investment in a Bitcoin ETF managed by Bitwise, as disclosed in 2023, amounts to $55 million.
- The digital design platform Figma, which went public in 2023, is positioning itself among the growing list of companies with Bitcoin on their balance sheets, demonstrating its confidence in digital assets for long-term treasury diversification.
- As part of its plans to increase Bitcoin holdings, Figma intends to allocate 2% of its USDC stablecoins for further Bitcoin purchases, signifying its commitment to the decentralized currency.
- In addition to its successful IPO and steady growth, Figma's business strategy includes embracing technology trends, as evidenced by its investments in both traditional finance and the burgeoning crypto space.
