Robinhood Adds $25 Million in Bitcoin to Corporate Balance Sheet
Robinhood has added approximately $25 million in bitcoin to its treasury, joining a growing list of public companies holding the asset.
Robinhood has added about $25 million worth of bitcoin to its corporate balance sheet. Johann Kerbrat, the company's senior vice president and general manager of crypto and international, disclosed the move during an interview at the Digital Asset Summit Asia conference on Wednesday.
Kerbrat stated that the purchase reflects how deeply the company cares about bitcoin and the ecosystem. He noted that while the company has a market capitalization in the $100 billion range, the $25 million allocation is not expected to change the firm's current trajectory.
This move places Robinhood among a cohort of over 170 public companies that hold bitcoin as a treasury asset. Other corporate holders include Tesla, Block, MARA Holdings, CleanSpark, Riot Platforms, and Strategy, which collectively hold over 1.2 million BTC.
Robinhood has been expanding its crypto operations beyond its core platform. In July, the company launched Robinhood Chain, an Ethereum-compatible Layer 2 network built on Arbitrum. The chain supports tokenized stock products, a stablecoin, and yield-bearing lending through Robinhood Earn, while integrating DeFi protocols and infrastructure from providers like Uniswap, Chainlink, Alchemy, and BitGo.
