BTC Enthusiast Explores Alternative Treasury Tactics as Market Remains Flat

Figma’s IPO Filing Reveals $70M Bitcoin Stake, Plans for Additional BTC Purchases

Design software giant Figma has revealed a significant bitcoin exposure as it prepares to go public, disclosing $70 million invested in bitcoin exchange-traded funds (ETFs) and outlining plans to expand its holdings with another $30 million in direct spot bitcoin purchases.

The company, whose collaborative design tools are used by 95% of Fortune 500 firms, recently filed for an initial public offering (IPO) and reported trailing 12-month revenue of $871 million—a 49% increase over the previous year.

Marty Bent, founder of bitcoin-focused media outlet TFTC and managing partner at venture capital firm Ten31, described Figma’s move as a major milestone for corporate bitcoin adoption.

“Figma is an incredibly well-run company, a true Silicon Valley success story, and a tool that every designer I know relies on daily,” Bent wrote in a piece titled This Is The Way. “The foresight shown by their leadership in gaining exposure through bitcoin ETFs and plans for direct spot bitcoin purchases is tremendously bullish.”

Unlike many recent entrants into the corporate bitcoin treasury trend who lack significant operating businesses, Figma stands out as a revenue-generating company with a widely used product. Bent believes this positions Figma as a potential example for other private firms that may soon disclose similar bitcoin holdings when going public.

“Once enough unexpected companies reveal bitcoin on their balance sheets, it will become standard practice,” Bent said. “It won’t be long before startups feel it’s unwise not to hold bitcoin, regardless of whether they operate in the crypto space.”

Market Pressure from Long-Term Holders

While bitcoin headlines have been dominated by news of institutional buying and spot ETF inflows, BTC’s price has struggled to break higher, remaining rangebound.

Bitcoin analyst James Check pointed to significant selling from long-term holders as a key reason for the recent price stagnation, estimating that these investors have been offloading as much as 40,000 BTC per day.

“The market’s ability to absorb that level of selling pressure and still hold above $107,000 is actually a very bullish sign,” Check said in a discussion with Bent. He countered narratives suggesting price suppression or dilution from “paper bitcoin,” instead highlighting the market’s resilience amid profit-taking.