David Edwards
Design platform Figma has disclosed $70 million in Bitcoin ETF holdings as part of its initial public offering (IPO) filing, underscoring the growing trend of corporations integrating digital assets into their treasury strategies.
The filing also states that Figma has $30 million in USD Coin (USDC), a stablecoin that it plans to exchange for Bitcoin soon. “On May 8, 2025, the Board of Directors approved an investment of $30.0 million in Bitcoin,” the document states. “Subsequently, the Company purchased 30.0 million USDC at $1 per unit, totaling $30.0 million. At a later time, the company plans to reinvest its stablecoin holdings into Bitcoin.
Hunter Horsley, CEO of Bitwise, commended the action, pointing out that Figma is investing about 5% of its balance sheet in Bitcoin. “More and more corporations are going to own Bitcoin as part of their treasury,” he commented, signaling broader institutional confidence in digital assets.
Following its unsuccessful $20 billion acquisition by Adobe in 2022, Figma has adopted a cryptocurrency stance. Since antitrust and value issues were raised, regulatory bodies in the UK and the EU finally vetoed the deal. After the agreement was canceled in December 2023, Adobe later paid Figma a $1 billion termination fee.
The digital asset strategy of the design business is in line with a larger trend among multinational corporations. Strategy (previously MicroStrategy) reported on Monday that it has acquired $531 million worth of Bitcoin, increasing its total holdings to 597,000. In a similar vein, Japan-based Metaplanet became the fifth-largest corporate Bitcoin holder by purchasing 1,005 BTC for $108 million, surpassing Cleanspark.
Although Bitcoin is still the most popular cryptocurrency, corporate treasury interest in Ethereum is growing. In order to launch its Ether-focused treasury strategy, BitMine Immersion Technologies has raised $250 million through a private placement.
