In case you missed it on the holiday week, the collaboration design tool has filed to go public by IPO. Used 95% of Fortune 500 companies and has $ 871 million of income over twelve months (up to 49% y/y), Revealed by Figma Bitcoin ETF exposure of $ 70 million as well as boarding the board to buy $ 30 million in Bitcoin spot
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“This is the way,” The title of an essay written by Marty Bent, founder of Bitcoin Media Company TFTC and Management of Bitcoin Venture Firm Ten31 partner.
“Figma is an incredibly well-operated company, one of the darlings of the Silicon Valley, and a product that every designer I know is used in their daily workflow,” Bent wrote. “The fact that the founders of Figma, their board, and their financial team had the view to gain exposure to Bitcoin ETFs and the Bitcoin area was an incredible bullish signal.”
Unlike the Busher of Late Companies announced Bitcoin Treasury Strategies (Almost everyone with an important operating business)Figma is different from that it has an actual product that people use and love and sweat some of its profits at BTC.
Bent suspects have other private running companies that make the same public in the coming 12-18 months.
“After a certain amount of undoubtedly this company shows that they have Bitcoin on their corporate balance sheet, it will be table stakes for everyone,” Bent concluded. “It will be ‘not wise’ that will not have bitcoin in your balance if you are a start, even if you have nothing to do with bitcoin.”
Current price action
There has been some frustration from the Bitcoin Bulls in the lack of upward price movement provided by the eternal pressure titles from the corporates that have been exchanged publicly and the ETFs of the area.
However, not making almost lots of headaches, is relentlessly selling pressure from long -term holders sitting on massive income. Talking to Bent, Bitcoin’s analyst James Check estimates that this sale has sank to a whopping 40,000 BTC per day.
That the market can absorb the type of sale and remain above $ 107,000 should be considered as excessive bullish, said check, and not as evidence of price suppression by creating Bitcoin paper.
