Figma Boosts Bitcoin Holdings by 46% Ahead of IPO

Figma, the design software giant, has disclosed a significant investment in Bitcoin as it prepares for its public debut on the New York Stock Exchange. The company revealed that it has been holding a multi-million-dollar Bitcoin investment for over a year, which has seen substantial fluctuations in value. The investment, initially valued at $55 million, had grown to $78.8 million by the end of December last year, but subsequently declined to $69.5 million by March 31 of this year.

Figma's board of directors approved the investment in the Bitwise Bitcoin ETF shortly after regulators approved the fund in January of last year. The company's decision to invest in Bitcoin comes as a surprise to many within the industry, as Figma has not previously been known for participating in digital asset markets. Despite acknowledging Bitcoin's volatility, Figma intends to buy more, with plans to invest an additional $30 million using its existing USDC stablecoins.

The company's IPO filing, which was first set in motion with a confidential SEC filing in April, comes more than a year after Adobe's failed acquisition of Figma. The IPO represents a new chapter for Figma, which was valued at $12.5 billion through a secondary tender offer in 2024. The company reported $749 million in revenue for 2024, with revenue increasing to $228.2 million for the first quarter of 2025, a 46% rise from the same period in 2024.

Figma's Bitcoin holdings accounted for roughly 4.5% of its total $1.54 billion in cash and securities as of the end of March, and the company intends to grow this by a further 2% using its USDC reserves. The decision to invest in a Bitcoin ETF positions Figma among a growing list of private and public companies adding Bitcoin to their balance sheets. The company's IPO plans are being led by Morgan Stanley, Goldman Sachs, Allen & Company, and J.P. Morgan.

Figma's move to increase its Bitcoin exposure is a strategic decision that reflects the company's confidence in the digital asset market. The investment in Bitcoin ETFs allows Figma to diversify its portfolio and potentially benefit from the growth of the cryptocurrency market. The company's decision to reinvest its stablecoin holdings into Bitcoin further demonstrates its commitment to the digital asset space. However, the volatility of Bitcoin remains a risk factor that Figma must manage carefully as it prepares for its public debut.