Figma Boosts Bitcoin Holdings to $91M, Emphasizes Cautious Approach
Design software firm Figma (FIG) increased its bitcoin holdings to $91 million in Q2, part of a $1.6 billion cash reserve, the company disclosed during Wednesday’s earnings call. The allocation is held via a bitcoin ETF, CFO Praveer Melwani confirmed.
CEO Dylan Field stressed the company’s measured strategy, distancing Figma from the aggressive bitcoin plays of MicroStrategy. “We’re not trying to be Michael Saylor here,” Field told CNBC. “This is a design company, but bitcoin has a place on the balance sheet as part of a diversified treasury strategy.”
Figma, which went public on the NYSE in July after a canceled $20 billion Adobe acquisition, serves 95% of the Fortune 500.
Despite beating earnings expectations, shares fell 18% Thursday to $55.96, about 50% below the IPO-day peak. Bitcoin remains a minor part of Figma’s overall balance sheet.
