In the event that you missed it during the holiday week, the Figma collaborative design tool filed a public file via the IPO. Used by 95% of fortune companies 500 and with $ 871 million in revenues over the twelve months. (up 49% in y / y)Figma revealed a Bitcoin ETF exposure of $ 70 million as well as the approval of the Board of Directors to buy $ 30 million in Bitcoin spot
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“This is the path”, makes the title of an essay written by Marty Bent, founder of the Bitcoin TFTC media company and partner Director of the Bitcoin Ten31 venture capital company.
“Figma is an incredibly well managed company, one of the darlings of Silicon Valley, and a product that each designer I know uses in their daily workflow,” Bent wrote. “The fact that the founders of Figma, their Board of Directors and their financial team had the pension to be exposed to Bitcoin ETF and Bitcoin of Spot is an incredibly optimistic signal.”
Unlike the Gusher of companies at the end of the announcement of Bitcoin cash flow strategies (Almost all with essentially no operating company)Figma is different in that it has a real product that people use and love and sweeps some of its BTC profits.
Bent suspects that there are other private companies that do the same that will become public in the next 12 to 18 months.
“After a certain quantity of these without distrust companies reveal that they have bitcoin to their business report, he will become table issues for everyone,” concluded Bent. “It will become” reckless “to have no bitcoin on your balance sheet if you are a startup, even if you have nothing to do with Bitcoin.”
Current price action
There has been a certain frustration on the part of Bitcoin Bulls on the lack of upward price movement, given the major securities of purchasing companies listed on the stock market and ETF Spot.
However, does not make as many headlines, it is the relentless sales pressure of long -term holders sitting on massive profits. Speaking with Bent, Bitcoin analyst, James Check, estimated that this sale culminated at 40,000 BTC per day.
The fact that the market can absorb this type of sale and remain above $ 107,000 should be considered terribly optimistic, said check, and not as proof of price deletion via the creation of bitcoin paper.
