In case you missed it during the holiday week, Collaborative Design Tool Figma filed for being published via IPO. Used by 95% of Fortune 500 -Companies and with $ 871 million revenue over the following twelve months (up 49% Å/Å)Figma revealed Bitcoin ETF exposure of $ 70 million as well as board approval to buy $ 30 million in Spot Bitcoin
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“This is so,” goes the title of an essay bound by Marty Bent, founder of Bitcoin Media Company TFTC and CEO of Bitcoin Venture Firm Ten31.
“Figma is an incredibly well -run business, one of the loved one of Silicon Valley, and a product that any designer that I know uses in their daily workflow,” Bent wrote. “The fact that the founders of Figma, their board and their financial team had the foresight to get exposure to Bitcoin ETFs and Spot Bitcoin is an incredible bullish signal.”
Unlike gusher of companies with late advertising Bitcoin Treasury strategies (almost everyone with essentially no operating business)Figma is different as it has an actual product that people use and love and sweep some of its profits for BTC.
Bent suspects that there are other privately run companies that do the same thing that will be announced in the next 12-18 months.
“After a certain amount of these unsuspecting companies reveal that they have Bitcoin in their company balance, it will become table settings for everyone else,” Bent concluded. “It becomes ‘unbeldy’ not to have bitcoin in your balance if you are a startup even if you have nothing to do with Bitcoin.”
Current price action
There has been some frustration from the Bitcoin Bulls over the lack of upward price movement that received endless headings for purchase pressure from listed companies and the SpotTFs.
However, not so many headlines are not relentless to sell pressure from long -term holders who are on massive profits. In a speech with the bent, Bitcoin analyst James Check estimated that this selling peaked with a huge 40,000 BTC per day. Day.
That the market can absorb that kind of sales and remain over $ 107,000 should be considered a terrible bullish, said check and not as proof of price oppression through the creation of paper Bitcoin.
