According to BlockBeats, on December 24, Robinhood CEO Vladimir Tenev said in an interview published on Monday that given Robinhood's increasing interest in cryptocurrencies, the idea of holding Bitcoin "comes up from time to time." However, he added that aside from holding some Bitcoin as part of satisfying customer trading needs, the company has no plans to hold BTC for investment purposes.
Tenev said: "We do not rule out this possibility. So far, we have not done this, and we are not in the business of investment management." He continued to state that, although Robinhood has not followed the footsteps of companies like MicroStrategy and Tesla in incorporating Bitcoin into its balance sheet, the company's stock price has been "highly correlated with it even though we do not hold Bitcoin." Robinhood's stock price has risen 202% this year, while Bitcoin's return rate so far this year is 110%.
But Tenev stated that he believes if Robinhood holds Bitcoin for investment purposes, investors' views on the company may become "more complicated," and they may regard it as a "quasi-Bitcoin holding strategy."
