Robinhood Buys $25M in Bitcoin to Signal Crypto Commitment

Robinhood has added $25 million worth of bitcoin to its balance sheet, a move the trading platform says is meant to show its commitment to the crypto sector.

Johann Kerbrat, Robinhood’s senior vice president and general manager of crypto and international, disclosed the purchase during an interview on The Block’s The Starting Block on Wednesday.

He framed the buy as a statement of alignment rather than a bet on near-term returns, explaining:

“We care deeply about bitcoin and the ecosystem around it. For us, it’s more aligning our company and our vision with the crypto community.”

Kerbrat also acknowledged that the position is small relative to the size of the business, noting:

“Robinhood is a massive company at this point, with a market cap in the $100 billion [range]. So the $25 million worth of bitcoin is not going to change a lot of the current trajectory of the company.”

Robinhood’s Nasdaq-listed shares closed down 1.85% at $112 on Tuesday, putting its market value at roughly $100 billion.

Corporate buyers keep stacking

The purchase comes as other publicly traded companies continue to add bitcoin to their balance sheets.

Strategy said Monday it bought another 334 BTC for about $28.7 million between Sept. 28 and Oct. 4, paying an average of $85,838.80 per coin and lifting its total holdings to 848,000 BTC.