INSTITUTIONAL | Robinhood Adds $25 Million of Bitcoin to Corporate Balance Sheet
Photo: Pixabay (illustration)
Robinhood has added $25 million worth of Bitcoin to its corporate balance sheet marking a shift from its focus on offering crypto services to customers toward holding the asset with its own capital. Johann Kerbrat, Robinhood’s senior vice president and general manager of crypto and international, said the purchase was intended to align the company with the cryptocurrency sector and diversify its assets. “We care deeply about bitcoin and the ecosystem around it,” Kerbrat said. MILESTONE | Robinhood Chain Overtakes Ethereum in Daily Revenue 2 Months After Launch The allocation is small relative to Robinhood’s financial resources.
Source: BitKE
