Robinhood has just completed a spectacular quarter. Its revenue from crypto trading has surged by 300%, reaching $268 million, propelling the total revenue to $1.27 billion. This performance affirms how the platform remains one of the major beneficiaries of the digital markets’ resurgence.
Robinhood hesitates to invest its treasury in Bitcoin
Behind the numbers, a question stirs backstage: should Robinhood transform a portion of its treasury into Bitcoin?
A dilemma between image and financial strategy
When questioned about this possibility during the results presentation, Shiv Verma, the new CFO of the group, acknowledged that the topic regularly resurfaced. ‘We like to be aligned with the community,’ she explained.
Crypto is at the core of our business, and our users are deeply engaged with it. But the real question is whether it’s the right choice for our shareholders.
The idea of a ‘corporate Bitcoin treasury,’ already adopted by companies like MicroStrategy, Coinbase, or Tesla, appeals with its modern image and closeness to the crypto community. However, it also entails immobilizing a portion of the capital in an asset still deemed volatile, a choice that Robinhood still considers premature.
Bitcoin as a symbol… but not yet as an asset?
‘Is this the best use of our capital?’ Verma posed, summarizing the internal debate. Between launching new products, accelerating growth, and investing in technology, priorities abound. For now, Robinhood prefers to let its users buy Bitcoin themselves on its platform rather than doing it on their behalf through its balance sheet.
This pragmatism contrasts with the current trend of Digital Asset Treasuries (DATs), which are proliferating among listed companies. These companies see Bitcoin as a diversification tool and a symbol of financial innovation.
One foot in crypto, but the head in strategy
Robinhood remains firmly rooted in the ecosystem. With such growth in its crypto volumes, the company confirms its role as a mainstream gateway to digital assets. The question is not whether Robinhood believes in crypto, it already does, but how far it is willing to go to make it a strategic pillar.
Meanwhile, the management prefers to proceed cautiously.
There are pros and cons, and it’s a topic we will continue to actively examine.
A phrase that perfectly encapsulates Robinhood’s current stance: fully focused on crypto, but not yet ready to bet its treasury on it.
