Robinhood (NASDAQ:HOOD) has added $25 million worth of Bitcoin (CRYPTO: BTC) to its corporate balance sheet, joining a growing list of public companies holding the token as a treasury asset.
Why Robinhood Made the Purchase
Robinhood SVP Johann Kerbrat told The Block’s Starting Block Wednesday that the purchase signals the company’s commitment to crypto rather than a major shift in strategy.
“We care deeply about bitcoin and the ecosystem around it,” Kerbrat said. “For us, it’s more aligning our company and our vision with the crypto community,” he added.
Kerbrat downplayed the purchase’s size relative to Robinhood’s roughly $100 billion market cap, saying the $25 million Bitcoin buy won’t meaningfully shift the company’s trajectory given its scale.
Where Robinhood Fits Among Corporate Bitcoin Holders
Strategy (NASDAQ:MSTR) started the corporate Bitcoin trend in 2020, and more than 170 companies worldwide have since followed.
Current holders include Tesla (NASDAQ:TSLA), Block (NYSE:XYZ), MARA Holdings (NASDAQ:MARA), CleanSpark (NASDAQ:CLSK) and Riot Platforms (NASDAQ:RIOT), which together hold well over 1.2 million BTC.
Strategy added to its own position this week, buying 334 BTC for about $28.7 million between Sept. 28 and Oct. 4 at an average price of $85,838.80, bringing its total holdings to 848,000 BTC.
How the Purchase Fits Robinhood’s Broader Crypto Push
As reported by Benzinga earlier, Robinhood plans to launch perpetual futures trading for eligible US users in the coming months, covering eight assets:
| Asset | Ticker |
| Bitcoin | (CRYPTO: BTC) |
| Ethereum | (CRYPTO: ETH) |
| Solana | (CRYPTO: SOL) |
| XRP | (CRYPTO: XRP) |
| Dogecoin | (CRYPTO: DOGE) |
| Cardano | (CRYPTO: ADA) |
| Chainlink | (CRYPTO: LINK) |
| Hyperliquid as measured by Hyperliquid Strategies Inc. | (NASDAQ:PURR) |
CEO Vlad Tenev called it “America’s first true perps,” with no expiry and profit and loss settled every 15 minutes.
Alongside the perpetuals launch, Robinhood Chain, the company’s Arbitrum-based Layer 2 network, went live on mainnet in July and has already reached $1.05 billion in total value locked.
The network supports Stock Tokens, letting eligible users trade stocks 24/7 directly on-chain. Kerbrat said stock-token trading volume is already high enough to approach limits set by the SEC’s innovation exemption for tokenized US equities.
Where HOOD Stands Technically
HOOD is trading down roughly 3% in premarket extending last week’s pullback from a $125 high.
Price has broken below the 20-day EMA at $114 and is now testing the 50-day EMA near $109. RSI at 48.75 confirms fading momentum, though price still holds comfortably above the 100-day and 200-day EMAs.
Key levels for HOOD:
- $114: 20-day EMA, resistance above
- $104: 100-day EMA, deeper support
Photo via Shutterstock
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