Robinhood adds $25 million of Bitcoin to its own balance sheet
Summary
Robinhood plans to allocate $25 million to Bitcoin, marking a shift from executives’ earlier hesitation about using corporate funds for crypto. The company says the purchase supports asset diversification, but it is less than 0.5% of its $5.362 billion cash balance and is currently a modest strategic signal. Robinhood has not said whether it will make recurring purchases. The move comes as crypto remains part of its core business: customers traded about $40 billion through Robinhood and Bitstamp in the second quarter, while crypto transaction revenue fell 38% year over year to $100 million.
