In a move that would have seemed fantastical to designers sketching wireframes just a few years ago, Figma—the collaborative design platform beloved by Silicon Valley’s most meticulous pixel-pushers—has quietly assembled a $99.5 million cryptocurrency portfolio that now represents a meaningful chunk of its pre-IPO treasury strategy.
The design unicorn’s crypto adventure began with characteristic Silicon Valley caution-meets-audacity: a $69.5 million position in Bitwise Bitcoin ETF shares, representing roughly 4.5% of its cash and securities portfolio. This regulated approach allowed Figma to sidestep the operational headaches of private key management while maintaining exposure to Bitcoin’s notorious price swings—a decidedly sensible choice for a company whose core competency involves making rectangles slightly more rounded, not securing cryptographic wallets.
But Figma’s appetite for digital assets apparently couldn’t be satisfied through traditional ETF wrappers alone. In May 2025, the company’s board approved an additional $30 million direct Bitcoin investment, initially purchased as USDC stablecoin before conversion. This dual-pronged strategy—combining ETF exposure with direct holdings—suggests a treasury management philosophy that views Bitcoin not merely as speculative garnish but as legitimate reserve asset diversification. This approach aligns with the broader stablecoin market growth, which reached record highs of approximately $228-252 billion by mid-2025, demonstrating institutional comfort with digital asset intermediation.
The timing reveals careful choreography with Figma’s anticipated NYSE debut. These crypto positions, disclosed in S-1 filings, position the company among a growing cohort of institutional investors treating Bitcoin as digital gold rather than internet funny money. The phased approach, beginning with ETF investments in March 2024 following SEC approval of spot Bitcoin ETFs, demonstrates methodical risk management rather than reckless FOMO.
Figma’s crypto embrace mirrors broader corporate treasury evolution, where CFOs increasingly view Bitcoin allocation as prudent portfolio theory rather than technological virtue signaling. The company’s preference for regulated vehicles and stablecoin intermediation reflects sophisticated risk management—acknowledging cryptocurrency’s appreciation potential while respecting its operational complexities. This strategic positioning comes as Figma reported impressive revenue growth of 48% in 2024, reaching $749 million.
As Figma prepares for public markets, its $99.5 million crypto position becomes both asset and statement: that even companies built on precision design tools recognize the strategic value of digital assets. Whether this treasury diversification proves prescient or premature will largely depend on Bitcoin’s continued institutional adoption—and whether Figma’s designers can craft user interfaces as elegant as their treasury strategy.
