Figma Files for IPO, Reveals $70M Bitcoin Exposure with Plans to Expand Holdings

Poised for a public debut, Silicon Valley darling Figma last week unveiled its significant bet on bitcoin, disclosing $70 million invested in bitcoin ETFs and signaling plans to boost that figure to $100 million with an additional $30 million purchase of spot BTC.

Figma, the collaborative design platform embraced by 95% of Fortune 500 companies, recently filed for an IPO. The company reported $871 million in revenue over the past 12 months, marking a robust 49% year-over-year increase.

Bitcoin advocate Marty Bent, founder of bitcoin media outlet TFTC and managing partner at bitcoin-focused venture firm Ten31, hailed the move as a major signal.

“Figma is an incredibly well-run company, one of the darlings of Silicon Valley, and a product that every designer I know uses in their daily work,” Bent wrote in an essay titled This Is The Way. “The foresight shown by Figma’s founders, board, and finance team to gain exposure through bitcoin ETFs and spot bitcoin is extremely bullish.”

While a growing wave of companies has recently announced bitcoin treasury strategies, many lack any real operating business. Figma stands apart, Bent noted, as a company with a widely adopted product and substantial revenue that’s choosing to allocate part of its profits into BTC.

Bent believes more private firms are quietly doing the same and could reveal similar bitcoin positions when they go public over the next year or two.

“After enough of these unexpected companies disclose bitcoin holdings on their corporate balance sheets, it will become table stakes,” Bent concluded. “Soon, it will be ‘unwise’ for startups to avoid holding bitcoin, even if their business isn’t directly tied to crypto.”

Price Dynamics and Market Context

Meanwhile, bitcoin bulls have expressed frustration over BTC’s price stalling despite relentless headlines about institutional buying and spot ETF inflows.

However, bitcoin analyst James Check highlighted an underreported force weighing on prices: heavy selling from long-term holders sitting on substantial profits. In a conversation with Bent, Check estimated that selling reached peaks of 40,000 BTC per day.

“The market’s ability to absorb that level of selling and still stay above $107,000 is actually extremely bullish,” said Check, countering narratives that price stagnation reflects manipulation or “paper bitcoin” dilution.