Figma has quietly assembled a $69.5 million position in the Bitwise Bitcoin ETF (BITB), transforming what began as a $55 million treasury experiment in March 2024 into a 27% winner that now represents roughly 4% of the design software company‘s $1.07 billion liquid reserves.
The timing reveals remarkable prescience—or perhaps remarkable luck. Figma‘s board approved the initial ETF purchase on March 3, 2024, mere weeks after U.S. regulators blessed spot Bitcoin ETFs, positioning the company among the earliest corporate adopters of what many considered an exotic treasury instrument.
The decision to categorize Bitcoin ETFs alongside Treasuries and corporate bonds as level-1 marketable securities suggests either profound confidence in cryptocurrency’s maturation or an accounting department with a particularly generous interpretation of traditional asset classes.
What distinguishes Figma’s approach from corporate Bitcoin adventurism is its methodical expansion. On May 8, 2025, the board authorized an additional $30 million Bitcoin allocation—crucially, to be acquired through USDC stablecoins rather than direct purchases. This mechanism provides operational liquidity flexibility while enabling strategic timing, fundamentally creating a crypto war chest that can capitalize on Bitcoin’s notorious volatility.
The strategy reflects evolving corporate treasury management, where regulated crypto investment vehicles blend seamlessly with conventional holdings. By choosing ETFs over direct Bitcoin ownership, Figma sidesteps custodial nightmares and regulatory ambiguity while maintaining exposure to digital asset appreciation. Understanding the underlying tokenomics of Bitcoin’s supply and demand mechanisms helps explain why corporate treasuries view ETFs as a safer entry point into cryptocurrency exposure. The company joins an expanding roster of Bitcoin treasury adopters including MicroStrategy, Tesla, and Block, signaling cryptocurrency’s mainstream corporate acceptance.
The 27% gains since initial acquisition certainly validate this measured approach, though one wonders whether treasury managers are quietly patting themselves on the back or nervously checking Bitcoin prices hourly.
Figma’s disclosure arrives amid IPO preparations, potentially influencing other tech companies contemplating similar treasury diversification. The revelation represents one of the most significant Bitcoin treasury announcements in the technology sector, signaling that cryptocurrency exposure has evolved from Silicon Valley curiosity to legitimate balance sheet strategy.
Whether this positions Figma as a visionary early adopter or simply another company caught up in crypto enthusiasm remains to be seen.
What’s certain is that the design software darling has effectively transformed treasury management into performance art, where traditional corporate conservatism meets digital asset speculation with apparently profitable results.
