Figma has quietly positioned itself at the intersection of design software dominance and cryptocurrency speculation, disclosing in its IPO filing that it holds approximately $70 million in Bitcoin ETFs—a treasury allocation that would make even the most crypto-curious CFO pause to recalculate their risk tolerance.
This investment represents 4.5% of Figma‘s $1.54 billion cash and securities portfolio as of March 2024, channeled primarily through the Bitwise Bitcoin ETF rather than wrestling with the custody nightmares that keep institutional treasurers awake at night. The company’s strategic embrace of regulated Bitcoin products demonstrates a measured approach to digital asset exposure, avoiding the operational complexities of direct cryptocurrency holdings while maintaining meaningful market participation.
The plot thickens considerably: Figma’s board approved an additional $30 million Bitcoin purchase on May 8, 2025, executed via USDC stablecoins—bringing total Bitcoin-related allocations to a round $100 million. This methodical escalation suggests institutional conviction rather than speculative fever, particularly given the board’s decision to route purchases through stablecoins before converting to Bitcoin.
Figma’s Bitcoin trajectory reveals steady accumulation aligned with strategic risk management. Initial investments of approximately $55 million in 2024 grew to $69.5 million by March 2025 through unrealized gains and additional purchases, indicating disciplined treasury diversification rather than momentum trading.
The company’s upcoming NYSE listing under symbol “FIG” creates an intriguing hybrid investment vehicle—shareholders receive exposure to both design software revenues and cryptocurrency volatility within a single equity position.
The strategic rationale aligns with broader institutional trends: Bitcoin serves as potential inflation hedging and currency depreciation protection while ETF structures eliminate custody risks and regulatory complications. Figma joins a growing cohort of technology companies integrating digital assets into balance sheets, though few have allocated quite so aggressively relative to cash positions.
While traditional finance relies on banks and brokerages as intermediaries, the rise of decentralized finance offers alternative peer-to-peer financial services through blockchain technology and smart contracts, potentially providing new opportunities for companies like Figma to diversify their treasury strategies beyond conventional Bitcoin holdings.
This treasury strategy may attract investors seeking dual exposure to technology innovation and cryptocurrency markets—a compelling proposition assuming Bitcoin maintains its institutional acceptance trajectory. Whether this calculated bet enhances shareholder value or merely amplifies balance sheet volatility remains the $100 million question that public market investors will soon evaluate firsthand.
