Collaborative design firm Figma disclosed it held approximately $91 million in a bitcoin exchange-traded fund during the second quarter, part of a broader $1.6 billion cash position, the company said on its quarterly call. Chief Financial Officer Praveer Melwani revealed the figure as the company outlined its balance-sheet mix.
The move follows Figma’s July IPO and a tumultuous run of corporate events — including a failed $20 billion acquisition by Adobe in 2023 — while the company continues to serve roughly 95% of the Fortune 500.
“We’re not trying to be Michael Saylor here,” CEO Dylan Field told CNBC, signaling that the purchase is a treasury diversification rather than a strategic pivot into crypto. Field described Figma as “a design company” that sees a role for bitcoin on its balance sheet.
Despite beating revenue estimates, shares fell sharply, dropping about 18% after the report and closing at $55.96. The bitcoin allocation represents roughly 5.7% of Figma’s reported cash holdings — a modest exposure that reduces but does not eliminate price risk.
Why it matters: Figma’s quiet allocation shows a growing trend of public companies treating digital assets as a treasury tool without adopting public evangelism. That measured approach can preserve strategic flexibility, but it also exposes corporate cash to crypto volatility; investors should note the potential for price swings to affect reported reserves.
Source: CoinDesk. Read the original coverage for full details.