In case it has been lost during the holiday week, the Figma collaboration design tool presented public through IPO. Used by 95% of Fortune 500 companies and with $ 871 million for the following twelve months (UP 49% and/a)Figma revealed exposure to Bitcoin ETF of $ 70 million, as well as the board’s approval to buy $ 30 million in Bitcoin Spot
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“This is the way,” says the title of an essay written by Marty Bent, founder of Bitcoin Media Company TFTC and managing partner of the risk firm of Bitcoin Ten31.
“Figma is an incredibly well directed company, one of Silicon Valley’s beloved and a product that each designer I know uses in their daily workflow,” Bent wrote. “The fact that the founders of Figma, their table and their finance team had the forecast of exposure to Bitcoin and Spot Bitcoin ETF is an incredibly optimistic signal.”
Unlike the stream of the late Bitcoin Treasury Strategies advertisements (Almost all essentially without operational business)Figma is different in the sense that it has a real product that people use and love and are dragging some of their profits to BTC.
Bent suspects that there are other private companies that do the same that will be made public in the next 12-18 months.
“After a certain amount of these offsembled companies they reveal that they have Bitcoin in their corporate balance, it will become table bets for everyone else,” Bent concluded. “It will become ‘reckless’ not to have bitcoin in its balance if it is a startup, even if it has nothing to do with Bitcoin.”
Current price action
There has been some frustration of Bitcoin Bulls due to the lack of upward price movement given the endless holders of the purchase pressure of the companies that are publicly negotiated and the ETF spot.
However, not doing almost so many holders is a relentless sales pressure of the long -term holders that are in mass profits. Talking to Bent, Bitcoin analyst James Check estimated that this sale reached its maximum point of 40,000 BTC per day.
The fact that the market can absorb that type of sale and remain above $ 107,000 should be considered terribly optimistic, the check said, and not as evidence of price suppression by creating bitcoin paper.
