Robinhood has purchased roughly $25 million worth of bitcoin for its corporate balance sheet, marking a new addition to the growing list of public companies holding BTC as a treasury asset.
Johann Kerbrat, Robinhood’s senior vice president and general manager of crypto and international, disclosed the purchase Wednesday during an interview on The Starting Block at the Digital Asset Summit (DAS) Asia conference.
Kerbrat said the decision reflects Robinhood’s long-term interest in bitcoin and its broader ecosystem.
“Robinhood is a massive company at this point, with a market cap in the $100 billion [range]. So the $25 million worth of bitcoin is not going to change a lot of the current trajectory of the company,” he said.
CoinDesk contacted Robinhood’s press team separately to determine whether the company is considering additional purchases of bitcoin or other cryptocurrencies.
The move adds Robinhood to the expanding group of publicly traded companies that have placed BTC on their balance sheets. Strategy, listed on Nasdaq, pioneered the corporate bitcoin treasury approach in 2020 and has since been joined by more than 170 companies globally. Other corporate BTC holders include Tesla, Block, MARA Holdings, CleanSpark and Riot Platforms, which collectively hold more than 1.2 million BTC.
Robinhood already has a substantial crypto business, serving more than 28 million funded customers worldwide. In July, the company introduced Robinhood Chain, an Ethereum-compatible Layer 2 network built on Arbitrum with a focus on tokenized real-world assets and decentralized finance.
The network has since added tokenized stocks, the USDG stablecoin and yield-generating lending through Robinhood Earn. It has also connected with major DeFi infrastructure and protocols, including Uniswap, Chainlink, Alchemy and BitGo.
