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Robinhood quietly bought Bitcoin for its own treasury the same morning its stock shed over $2 billion in market value, but the crypto purchase and the selloff tell completely different stories about where this company is actually heading.
Robinhood added $25M of Bitcoin (~294 BTC) to its balance sheet—its first corporate holding and a strategic signal from a $100B fintech.
Robinhood is adding Bitcoin to its balance sheet for diversification after previously weighing it against product and engineering spending.