【Market Flash】Brokerage Robinhood makes its first crypto purchase using its own funds: It has added $25 million $BTC to the company’s own balance sheet, completely separate from customer assets.
Johann Kerbrat, senior vice president in charge of crypto and international operations, disclosed the purchase in a public interview on October 7. He said the move was more a statement of and commitment to the crypto industry’s long-term prospects than a bet seeking short-term returns.
Notably, less than a year ago, Robinhood executives had publicly questioned whether it made sense for the company to stockpile Bitcoin. The reversal in stance is now seen as another sign that the fintech giant, with a market capitalization of over $100 billion, is fully embracing crypto.
(Source: X)
#Bitcoin #Robinhood #CryptoMarket
⚠️Risk warning: The above is shared for market information purposes only and does not constitute investment advice. Investing involves risk; please exercise caution.
Johann Kerbrat, senior vice president in charge of crypto and international operations, disclosed the purchase in a public interview on October 7. He said the move was more a statement of and commitment to the crypto industry’s long-term prospects than a bet seeking short-term returns.
Notably, less than a year ago, Robinhood executives had publicly questioned whether it made sense for the company to stockpile Bitcoin. The reversal in stance is now seen as another sign that the fintech giant, with a market capitalization of over $100 billion, is fully embracing crypto.
(Source: X)
#Bitcoin #Robinhood #CryptoMarket
⚠️Risk warning: The above is shared for market information purposes only and does not constitute investment advice. Investing involves risk; please exercise caution.