Figma collaborative design software company (FIG) expanded his bitcoin Holdings at $ 91 million in the second quarter of this year, the company revealed on Wednesday when he calls for results.
This decision, revealed by the financial director Praveer Melwani, is part of a greater cash position of $ 1.6 billion. “As part of the $ 1.6 billion, we also owned around $ 91 million in our Bitcoin exchange fund,” said Melwani.
Figma, who became public on the New York Stock Exchange in July, had a few hectic years. A planned acquisition of $ 20 billion per Adobe collapsed in 2023 after regulators raised antitrust concerns. Since then, the company has continued to develop its customers, which includes 95% of fortune 500.
Unlike some companies that have turned to Bitcoin Holdings as a last effort to excite investors or turn away from the drop in main companies, Figma’s approach seems more conservative.
“We are not trying to be Michael Saylor here,” CEO Dylan Field told CNBC, referring to the co-founder of Microstrategy, known for having transformed his software company previously asleep into a major Bitcoin support. “It is not, like a Bitcoin portfolio company. It is a design company, but I think there is a place for it in the balance sheet and within the framework of a diversified cash strategy.”
Neither the increase in exposure to bitcoin nor the better than expected income has increased the feeling of investors, at least in the short term. Despite the expectations of profits, Figma’s shares fell 18% on Thursday, closing at $ 55.96. This remains above the price of the IPO, but down approximately 50% compared to the frantic IPO peak.
The silent addition of Figma de Bitcoin to its treasure adds another name to the list of public companies experimenting with digital assets as part of their financial infrastructure – but without the spectacle or evangelization often associated with this decision.
For the moment, Bitcoin remains a small slice of the Figma assessment.
