While most design software companies content themselves with perfecting kerning and color palettes, Figma has decided that a $100 million stake in a Bitcoin ETF represents the logical next step in its corporate evolution. This strategic pivot from collaborative design tools to cryptocurrency exposure demonstrates either remarkable prescience or the kind of corporate wanderlust that characterizes companies flush with venture capital and anticipating public market debuts.
The timing proves particularly intriguing, coinciding with Figma’s planned July 1, 2025 IPO under the ticker FIG on the NYSE. With Morgan Stanley, Goldman Sachs, and J.P. Morgan shepherding the offering, the Bitcoin ETF stake appears calculated to appeal to investors increasingly enamored with companies boasting “diversified portfolios” that include emerging asset classes. Whether this $100 million represents shrewd treasury management or expensive signaling remains an open question.
Figma’s financial fundamentals certainly support such experimental ventures. The company generated approximately $600 million in annual recurring revenue during 2023 while expanding its user base by 159% to over 4 million users worldwide. Having raised $333.6 million from 58 investors since inception, Figma maintains the luxury of exploring alternative growth avenues beyond its core business model. The company’s remarkable trajectory from $4M in 2018 to $400 million in 2024 revenue demonstrates the financial foundation enabling such bold strategic moves.
The strategic implications extend beyond mere portfolio diversification. This crypto foray positions Figma within the broader narrative of traditional tech firms seeking fintech credibility, potentially influencing future product development toward blockchain-adjacent innovations. The move aligns with Figma’s expanding identity—two-thirds of its monthly active users now identify beyond traditional design roles, reflecting the platform’s evolution through AI-powered features and tools like Dev Mode and Figma Slides. The company recently showcased its ambitious product roadmap at Config 2025, where 8,500 community members gathered to witness the unveiling of four new products including Figma Make and Figma Sites. This cryptocurrency investment reflects broader market trends toward institutional adoption of digital assets by established technology companies seeking portfolio diversification.
Perhaps most tellingly, this Bitcoin ETF investment represents institutional adoption of cryptocurrencies by a company employing 2,119 staff at an average salary near $132,000 annually. The decision suggests either sophisticated treasury strategy or the kind of corporate experimentation that becomes possible when annual recurring revenue approaches three-quarters of a billion dollars.
Whether this bold crypto move enhances Figma’s IPO valuation or serves as an expensive lesson in portfolio theory will likely depend on Bitcoin’s performance between now and the company’s public debut.
