Figma has positioned itself at the intersection of design innovation and cryptocurrency speculation, committing approximately $100 million to Bitcoin investments as the collaborative design platform prepares for what could be 2025’s most significant tech IPO.
The design software darling currently holds $69.5 million in spot Bitcoin ETF assets as of March 31, 2025, a respectable sum that apparently wasn’t quite respectable enough for the board of directors. On May 8, they approved an additional $30 million Bitcoin investment plan, because nothing says “we’re ready for public markets” like doubling down on digital assets whose volatility makes roller coasters seem mundane.
The company’s approach reveals a peculiar financial choreography: the $30 million allocation initially purchases USDC stablecoin before converting to Bitcoin at an opportune moment. This stepwise strategy suggests either sophisticated market timing or an abundance of caution—perhaps both. The board’s formal resolution indicates methodical planning rather than impulsive crypto enthusiasm, though the distinction between prudent diversification and speculative fever remains subjective.
Figma’s financial fundamentals provide context for this digital asset adventure. The company reported $749 million in revenue for 2024, representing a 48% increase over 2023, with rolling 12-month revenues totaling $821 million and an impressive 91% gross margin. These metrics suggest the Bitcoin investment represents strategic diversification rather than desperate treasury management.
The timing proves particularly intriguing given Figma‘s Form S-1 filing with the SEC, positioning for NYSE listing under ticker “FIG” with expectations of raising up to $1.5 billion. Post-IPO governance structures include three share classes, with CEO Dylan Field retaining majority voting control through proxy arrangements—ensuring crypto investment decisions remain within founder purview. While traditional financial institutions require extensive regulatory oversight, decentralized assets like Bitcoin operate through smart contracts that execute automatically without intermediaries.
Figma joins an expanding roster of tech companies treating Bitcoin as legitimate treasury assets, reflecting growing institutional acceptance of cryptocurrency as a store of value. The company’s backing by heavyweight venture capital firms including Index, Greylock, Kleiner Perkins, and Sequoia provides additional credibility as it navigates both traditional public markets and alternative asset strategies. Whether this represents visionary corporate strategy or expensive speculation remains to be determined by market forces and regulatory developments.
The company’s methodical approach—combining ETF exposure with direct Bitcoin purchases via stablecoin intermediation—suggests calculated risk-taking rather than reckless speculation, though the ultimate wisdom of cryptocurrency treasury diversification awaits validation through future market cycles.
