Figma Stock Explodes 198% on NYSE Debut; Company Reveals $100M Bitcoin Strategy
Figma (FIG), the design software powerhouse, made a stunning public debut Wednesday, with shares soaring 198% in their first day of trading on the New York Stock Exchange. The company raised $1.2 billion through its IPO, pricing shares at $33 and reaching a $20 billion valuation. Early Thursday trades saw the stock open at $98, pushing its implied market cap closer to $60 billion.
In addition to its strong Wall Street debut, Figma has emerged as an unlikely corporate bitcoin holder. The company recently disclosed $70 million in exposure to Bitwise’s spot Bitcoin ETF (BITB) and signaled plans to purchase another $30 million worth of BTC, bringing its total potential holdings to $100 million.
Though not a crypto-focused business, Figma’s sizable bitcoin position reflects a growing trend among tech firms looking to diversify treasury reserves. Its move may set a precedent for other Silicon Valley players exploring digital assets as part of their financial strategy.
While Figma’s core business remains enterprise-grade design tools, its bitcoin exposure could signal a broader shift in how tech companies approach capital management in a volatile macro environment.
