Figma shares skyrocketed 198% on their NYSE debut Thursday, pushing the design software firm’s valuation from $20 billion at IPO pricing to nearly $60 billion by the day’s early trades. The company raised $1.2 billion via its initial public offering, listing under the ticker “FIG.”
While Figma isn’t a crypto-native firm, it disclosed owning $70 million worth of the Bitwise Bitcoin ETF and intends to add $30 million more in spot BTC, signaling growing corporate interest in bitcoin as a treasury asset. This unusual financial move may inspire similar strategies among other Silicon Valley tech firms.
Figma had previously been set to be acquired by Adobe for $20 billion, but the deal was canceled in 2023, with Adobe paying a $1 billion breakup fee. The IPO’s success aligns with a broader surge in listings, including crypto firms like Circle and eToro, amid improving regulatory clarity for digital assets in the U.S.
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