Figma Eyes Further Bitcoin Exposure in Run-Up to Hopeful NYSE Debut
Figma has held a multi-million-dollar Bitcoin investment for over a year, revealing plans for a public debut on the New York Stock Exchange. The board approved a $55 million investment in the Bitwise Bitcoin ETF in March 2024, which grew to $78.8 million in unrealized gains by December 2023, but faced a decline of $9.3 million by March 31, 2024. Figma plans to invest an additional $30 million using USDC stablecoins. The company reported $749 million in revenue for 2024, with a 46% increase to $228.2 million in Q1 2025. Bitcoin holdings represent about 4.5% of Figma's $1.54 billion in cash and securities. The IPO follows the cancellation of a $20 billion acquisition by Adobe due to regulatory issues. Figma was valued at $12.5 billion in 2024 through a secondary tender offer.
