If you missed it during the holidays, the collaborative design tool Figma applied for public places through an IPO. 95% of Fortune 500 companies use it, with revenue of $871 million in twelve months (up 49%/y),,,,, Figs are public Bitcoin ETF has a exposure of $70 million, and board approval to purchase $30 million in spot Bitcoin
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“That’s the way,” Title of writing article Marty Bent, founder of Bitcoin Media Company TFTC and managing partner of Bitcoin venture capital firm TEN31.
“Fig Company is an amazing company, one of the darlings of Silicon Valley and a product that every designer I know uses in their daily workflow,” Bente wrote. “The fact that the founders of fig, board of directors and finance teams have the visionary fact that they have access to Bitcoin ETFs and spot bitcoins is an incredibly bullish sign.”
Unlike the company that recently announced Bitcoin Treasury Strategy (Almost all of them have no operating business)Fig, the difference is that it has actual products that people use and love and sweeps some of its profits into BTC.
Bent suspects that there are other privately operated companies that will be publicly available in the next 12-18 months.
“A certain number of unsuspecting companies show that they have bitcoin on their company’s balance sheet, which will be a table bet for everyone else,” Bent concluded. “If you are a startup, even if you have nothing to do with Bitcoin, it’s not going to be ‘unwise’ without Bitcoin on the balance sheet.”
Current price action
Given the headlines of buying pressure from publicly traded companies and spot ETFs, the Bitcoin Bull is frustrated by the lack of upward price movements.
But not so much headlines are the unremitting selling pressure of long-term holders sitting on huge profits. Bitcoin analyst James Check estimated that sales peaked at up to 40,000 BTC per day, while talking to Bent.
The market could absorb such sales and keep sales above $107,000, and should be considered very optimistic, stating evidence of the inspection rather than suppressing the price by creating paper bitcoins.