Shares of Figure Technologies (FIGR) surged Monday after billionaire investor Stanley Druckenmiller unveiled a substantial new stake in the company, which leverages blockchain infrastructure to streamline consumer lending. The stock jumped as much as 15% to $46.46 and was recently up 10% at $44.45, extending its strong performance since going public in September. FIGR is now up 44% from its Nasdaq debut, bucking the trend of other newly listed crypto-related firms that have struggled amid a weak market.
Druckenmiller’s Duquesne Capital revealed in its latest 13F filing that it accumulated more than 2.1 million shares of Figure during the third quarter. The holding—valued at about $77 million—now makes up 1.9% of the firm’s portfolio. Known for spotting major shifts in technology and macro trends, Druckenmiller’s move signals increasing institutional interest in financial platforms blending blockchain and AI to improve lending efficiency.
The disclosure comes as analysts at Bank of America, Mizuho and Piper Sandler have raised their price targets on Figure. They pointed to the company’s transition to a “capital-light” model focused on home equity lines of credit (HELOCs), which is helping drive new growth. In its third-quarter report, Figure said its Figure Connect marketplace is on track to deliver 60% of total loan volume, up from 46% the previous quarter.
Mizuho analyst Dan Dolev also highlighted Figure’s expanding footprint in digital assets as a competitive strength. The company recently introduced YLDS, a yield-bearing stablecoin built on the Provenance blockchain, positioning it as a potential destination for investors seeking digital-dollar returns and as a response to expected capital migration away from traditional banks
