Figma, a design software firm, is planning to go public on the NYSE under the ticker FIG and has disclosed a $55M investment in a Bitwise-managed Bitcoin ETF.
Figma's move into Bitcoin investments signals a shift from previous skepticism towards cryptocurrencies, potentially boosting investor confidence in Bitcoin adoption.
Figma's strong financial performance with a Q3 2024 revenue of $749M and plans to invest in Bitcoin could make it a significant player in the crypto market upon its NYSE debut.
Bitcoin adoption is on the rise with public companies like Strategy, MARA Holdings, and Twenty One increasing their Bitcoin reserves, reflecting a broader trend in the market.