Figma’s Bitcoin Exposure: Details and Timeline
Figma initially acquired $55 million worth of Bitwise Bitcoin ETF (BITB) units in March 2024, shortly after the fund was approved by the US Securities and Exchange Commission (SEC). By year-end, the position had grown to $78.8 million, reflecting both appreciation and additional purchases. However, as of March 2025, market volatility resulted in a $9.3 million unrealized loss, reducing the net value of the holding to $69.5 million.
Notably, Figma’s board has already greenlit an additional $30 million investment in bitcoin—using USDC stablecoins currently held on the balance sheet. According to the company’s S-1 filing, “Figma plans to reinvest its stablecoin assets into bitcoin in the future,” confirming an ongoing bullish stance on digital assets despite price fluctuations.
IPO Context and Growth Trajectory
Figma’s decision to publicize its crypto treasury strategy comes on the heels of the failed $20 billion acquisition attempt by Adobe, blocked in December 2023 by European and UK regulators citing antitrust concerns. In 2024, Figma’s secondary share sale valued the company at $12.5 billion, allowing some early backers to partially exit.
The company continues to demonstrate strong financial fundamentals. In 2024, Figma generated $749 million in revenue. Q1 2025 revenue surged to $228.2 million, up 46% year-on-year, reflecting robust demand and efficient scaling. Underwriters for the upcoming IPO include Morgan Stanley, Goldman Sachs, Allen & Company, and J.P. Morgan.
Institutional Bitcoin Holdings: Growing Corporate Trend
By publicly disclosing its bitcoin exposure, Figma joins high-profile companies like Strategy, Tesla, and Metaplanet in integrating digital assets into corporate balance sheets. This move signals a normalization of crypto adoption among tech unicorns and may encourage further institutional flows into bitcoin ETFs and related products. However, Figma has thus far declined to comment further to the media on the strategic details behind its crypto allocation.