Robinhood buys $25 million in bitcoin

00:00 Speaker A

Robin Hood adds $25 million of Bitcoin to its balance sheet. Let's go, baby!

00:04 Speaker A

Remember when everyone was going to become a Bitcoin balance sheet company and add Bitcoin to their balance sheet.

00:08 Speaker A

Okay, so Robin Hood has taken $25 million of Bitcoin and put it on its corporate balance sheet, right?

00:15 Speaker A

This is the what we saw strategy originally do. We saw, you know, uh, Jack's company do it. We saw Tesla and SpaceX do it.

00:23 Speaker A

We used to believe that every company was going to own Bitcoin on its balance sheet. So, listen, this is

00:27 Speaker A

company-owned Bitcoin, not customers' Bitcoin held on their behalf, obviously. And

00:32 Speaker A

what matters here is how it's being framed by management, which is demonstrating commitment to Bitcoin and the ecosystem. So,

00:39 Speaker A

it's more signal than it is size because this is a, you know, billion dollar company.

00:43 Speaker A

and obviously adding $25 million is a rounding error.

00:48 Speaker A

But Robin Hood has long been committed to Bitcoin and to crypto and

00:52 Speaker A

actually putting it on the balance sheet and signaling that this is a viable investment and a viable treasury asset.

00:58 Speaker A

To me is an absolutely huge signal because we really haven't seen stories like this in quite a while.

01:03 Speaker A

So I love that they're doing it. I mean, Robin Hood bought 25 million of Bitcoin.

01:08 Speaker A

Uh, Michael Saylor probably is just calling that checking whether the buy button works or not, right? I mean, 25 million is

01:14 Speaker A

it's a rounding error for these other treasury companies, but still, as I said, I am

01:18 Speaker A

here for the signal.