Michaela Alvez
Robinhood CEO Vladimir Tenev has announced that while the firm is increasing its focus on the crypto sector, it has no immediate plans to invest in Bitcoin.
In a recent interview with Anthony Pompliano, Tenev explained that although the idea of investing in Bitcoin has come up, the company remains focused on its primary goal: facilitating trading, rather than holding Bitcoin as an investment.
“We wouldn’t rule it out, but we haven’t done it thus far,” Tenev stated. “We’re not in the business of being an investment manager.”
Tenev pointed out that Robinhood’s stock price already tracks Bitcoin’s performance closely, eliminating the need for the company to hold the cryptocurrency in its reserves. Robinhood’s stock has seen a remarkable 202% increase this year, significantly outperforming Bitcoin’s 110% year-to-date gain.
Robinhood’s crypto-related revenues are expected to grow by 20% by the end of 2025, with cryptocurrencies potentially accounting for 38% of the platform’s total revenues. Analysts from Bernstein attribute this growth to increasing user interest and favorable market conditions, which were notably influenced during President-elect Donald Trump’s presidency.
Tenev further explained that including Bitcoin in the firm’s balance sheet might create confusion among investors, potentially causing the company to be viewed as a “quasi-Bitcoin-holding play.”
Although Robinhood has taken a cautious stance on crypto investments, the company is actively broadening its cryptocurrency services.
In an effort to further solidify its position in the crypto space, it aims to complete its acquisition of the crypto exchange Bitstamp by mid-2025.
Robinhood has typically maintained a cautious stance on crypto, offering fewer digital assets and trading options than its competitors. However, analysts suggest that this approach could shift as the company moves forward with its Bitstamp acquisition and explores new opportunities in the evolving market.
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Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.
