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Home›Crypto›Market Structure›Robinhood buys $25 million in Bitcoin for its balance…

Robinhood buys $25 million in Bitcoin for its balance sheet

Reported · Written up by our desk · Market Structure

Robinhood added $25 million worth of Bitcoin to its own balance sheet, according to The Block and CryptoSlate.

Johann Kerbrat, the brokerage’s senior vice president and general manager of crypto and international, said the purchase was meant to signal Robinhood’s commitment to the crypto sector.

CryptoSlate adds that the company’s executives had previously discussed whether holding corporate crypto could benefit shareholders.

Kerbrat said Robinhood views Bitcoin as a strategic asset to help diversify its holdings, with the allocation announced Wednesday.

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Sources

The BlockRobinhood adds $25 million worth of bitcoin to balance sheet as it deepens crypto push
CryptoSlateRobinhood adds $25 million of Bitcoin to its own balance sheet

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