Figma’s $91M Bitcoin Bet Isn’t a ‘Michael Saylor’ Move, CEO Says

Collaborative design software company Figma (FIG) expanded its bitcoin (BTC) holdings to $91 million in the second quarter of this year, the company disclosed Wednesday during its earnings call.The move, revealed by Chief Financial Officer Praveer Melwani, comes as part of a larger $1.6 billion cash position. “Within the $1.6 billion, we also held approximately $91 million in our bitcoin exchange-traded fund,” Melwani said.Figma, which went public on the New York Stock Exchange in July, has had an eventful few years. A planned $20 billion acquisition by Adobe collapsed in 2023 after regulators raised antitrust concerns. Since then, the company continued to grow its customer base, which includes 95% of the Fortune 500.Unlike some firms that have turned to bitcoin…